If Facebook had simply decided to launch its Libra cryptocurrency solution on the Bitcoin SV (BSV) blockchain, it could have itself a lot of headaches, money and hassle. Given that Bitcoin was created to be used in compliance with global financial regulations and governments, and that BSV is the only crypto that adheres to Bitcoin’s original white paper, the digital currency solution has been constructed to work within financial boundaries, not outside of them. If anyone expects to see a digital currency survive that isn’t compliant with global money rules, they’re sadly mistaken and out of touch.
The CEO of Money Button, Ryan X. Charles, recently published a video on YouTube that broached the subject of why Facebook’s Libra should have been launched on BSV, explaining that the blockchain’s unlimited scaling capabilities and regulation-compliant design make it a logical choice. He has now followed up with a second video that looks at how Facebook, as a social media platform, could benefit from making the switch, as well.
The issue with Facebook now is its revenue generation model. It’s completely based on advertising and this produces an environment that encourages content of any type that will drive hits in order to drive ad sales. In the end, as has already been seen on numerous occasions, this leads to any type of content being delivered, even if that content is completely fake.
Facebook could, instead, turn to BSV and give ownership of the content where it belongs—the content provider. In doing so, it can then sell rights to include content on the platform by including the ability to charge micropayments for all available content. This was never possible with any financial solution before BSV, given its extremely low transaction fees.