Facebook (NASDAQ:FB) is controversial, if nothing else. The world's fifth-biggest company by market cap, it's also the biggest social network by a comfortable margin. Yet, despite the fact that most of us use it, we've become increasingly suspicious of what it's been doing with our personal data. Ever since the Cambridge Analytica scandal (and probably long before), we've feared that such data isn't particularly secure or private, so we've been pushing back against the social media giant, as witnessed with last year’s #DeleteFacebook campaign.
But at the same time, those with an interest in cryptocurrency also have an appreciation that, for crypto to enter the mainstream, it will need the backing of a big corporation or two. This is why recent news of Facebook's apparent plans for its own cryptocurrency is something of a bittersweet pill to swallow. There's little doubt that the promotion of a digital currency by one of the world's largest companies will put crypto firmly on the map. Yet, given Facebook's reputation, it's hard to shake the suspicion that what Mark Zuckerberg and Co. end up offering won't be a cryptocurrency in the proper, decentralized sense of the word.
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