That statement might make some thing that I have lost my mind.

![](https://steemitimages.com/DQmY4kUw1pT4gVWBYB566bkVv34aayaHJJLp28a2wcW8AQR/image.png)

But actually, when you think about it, Facebook creating a token is the best thing that could ever happen to STEEM.  While some of what I write is speculation, it fits with the way things operate in the corporate world.

To start, Facebook is an entity that generates billions of dollars a year.  This is money Wall Street not only counts on, but  expects to increase each year.  We know how much Facebook profits off selling data which comes from controlling the ecosystem.

This means that Facebook is going to set up something that is centralized and under their control.  At the same time, do not believe for a second that the Facebook token is going to "share the wealth" to any great degree.  Zuckerberg and Wall Street are not going to hand over hundreds if billions of dollars each year to the users of Facebook.  

Therefore, any token that Facebook creates will be akin to a frequent shopper program.  It is true Facebook users will eat it up since they will go from making nothing to getting something.  However, the trust factor outside Facebook is not going to be there since we are looking at a centralized system.

And imagine the fallout if (or is it when) it gets hacked.  We could potentially see a honeypot of 1B-2B keys.  

Certainly, Zuckerberg and Facebook will try to "sell" this as a cryptocurrency like Bitcoin except people can earn it.  We all know this is nothing like decentralized cryptocurrencies but the masses will not.  Therefore, they will buy into it which is a great thing for STEEM.

What this entire process will do is legitimize STEEM, cryptocurrencies, and the entire blockchain world.  When one of the biggest names gets into it and says this is how we solve many of our problems (even if it is an illusion), that goes a long way.  

![](https://steemitimages.com/DQmV9XiBmqaXuNc7k93Gw4mamQefottoLRQnDJzdB8JJjQM/image.png)

Another thing it will do is get the masses using cryptocurrency.  Right now the entire industry is facing the prospect that all early adopters are in.  From what I can see, things are stalling a bit on the adoption end because people who are not involved are resistant.  A Facebook token will help overcome this.  Billions suddenly will be introduced to the entire concept.  That opens up a whole new category of people.

STEEM will also have another major advantage....Smart Media Tokens.

Branding is an important aspect in business today.  With attention being at a premium, having people recognize you is crucial.  As we move forward, an entity having its own token will help in this endeavor.  Every large entity is going to create one over the next 5 years.  It only makes sense.

In the content creation world, Smart Media Tokens are meant to assist companies in this.  This gives STEEM a leg up.  STEEM will be extremely valuable with 25M-50M people on the blockchain.  When compared to Facebook's billions, this is a small piece of the social media pie.  

The best part of all this is STEEM will not have to attract those people to STEEM.  Rather, it is the entities that create the tokens that will do the marketing and draw their followers to this blockchain.  STEEM's traffic will be other businesses' followers.  Now, that is a great business model.

Finally, Facebook is not going to be able to keep up in innovation.  @ned is consistent with his goal of having over 100K entrepreneurs on the STEEM blockchain in 5 years.  The main advantage of blockchain is that it is open and decentralized.  Anyone can hang something on this blockchain.  There is no need for approval from anyone.  The code is open for anyone to copy.  STEEM is even going one step further and creating manuals for developers to follow as to how to create applications on this blockchain.  They are openly inviting anyone to become involved.

Do you think that Facebook will do that?  All innovation and creation will be done by their programmers.  While I am certain that are very good at what they do, they cannot keep up with the sheer volume and power of the masses.  When there are tens of thousands of people hacking away at code creating whatever interests them, that is something that will produce huge results.  We see the beginnings of that already.

We are at a time where the establishment is getting into blockchain because of the advantages it provides.  We saw the same thing with the Internet back in the 1990s.  The purveyors of information all embraced the Internet becoming some of the first websites published.  These companies, mostly newspapers, magazines, and news outlets, ended up getting crushed by this now tool.  Blockchain is going to do the same thing.

It is the Trojan horse.  They are inviting it into their house not realizing it is going to eat them alive.  In my view, fiat currency, banks, and, ultimately, governments will not be able to stand up against this new technology.  All those are much stronger than Facebook and have no chance.  Hence, I see the same outcome for Facebook.

That is the power of open and decentralized blockchains.

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