While this new crypto will be available early next year and there are still many things to be clear, experts say it could be the biggest thing ever invented in terms of world economy and marketing, thanks to the Blockchain and this is only the beginning. The truth is that this new cryptocurrency will definitely have an impact on the ecosystem and the crypto community in general terms.
Two months after the announcement of its launch, we have heard a lot about LIBRA, its operation and the implications of this token but the truth of the matter is that the dream of enthusiasts and those who bet on crypto is the arrival of a future where widespread adoption will come and these assets will change the world. This vision is closer than ever.
In the next five years, people will wonder how things were before LIBRA, as has happened with social networks, few remember how communications were before WhatsApp or Facebook. We are facing a key moment for Blockchain technology and digital marketing, getting closer to money transfers without a bank, but … What will be the direct impact of LIBRA on cryptocurrencies in general?
Will Libra be that powerful?
LIBRA could become the most powerful crypto despite being a stablecoin, in terms of market capitalization. More than seven million companies make life in the Facebook ecosystem, including Instagram, Whatsapp, Tinder, and other networks. When a person or company wants to sell on the internet and wants to use social networks for an advertising campaign, after being on the network, people see the advertising, click, which takes them to another page, register, choose the product, payment method, shipments and other processes that lead to a sale on the internet. These processes involve removing the person from the social network and every sale through the networks works with this structure, that is where LIBRA breaks with the principles of web marketing, making the decentralization approach through Blockchain technology a reality.
The new scheme proposed by LIBRA allows advertisers to sell their products or services without the consumer leaving the network. Instagram can listen to what you say through algorithms with artificial intelligence linked to advertising, which aim to show advertising about what you want or express at any time.
Social network users are witnessing a revolution in sales. Many people currently opt for online business, in fact, physical stores today have minimized the number of employees. People want to buy products and receive them at home directly. Without registering, you can have the option to pay with LIBRA, which creates a direct link between advertisers and consumers.
Now, on Instagram, you can see the price of products in the publications. This is the way in which LIBRA will have access to the entire community of companies that already use these services for sale, which will undoubtedly break with reality. In the conventional sales structure described above, a large number of visits are lost and with that potential purchasers due to the tedious results for users registering, leaving the network in which they are interacting, many people do not end up buying the products.
How will Libra affect Digital Marketing?
LIBRA takes digital marketing to another level, users will have the possibility to access products that are being seen live in simple steps and in minutes it could be at your doorstep, which will not only benefit the user, but the market in general because the networks have access to your location, and with the use of artificial intelligence, they will show ads from your local area and create consumer circles.
After social networks, LIBRA becomes the next world marketing revolution. In underdeveloped countries or with generally high poverty rates there are people who choose alternatives to make a living such as freelance, working online and through that means they manage to bring their daily bread to their home.
Regularly, the purchasing power of the average citizens in third world countries is low, as a consequence, people do not meet the necessary requirements to access banking services, for which they find it very difficult to make the profits obtained from their jobs, or It is the case in which governments have exchange controls, in countries like Venezuela where citizens legally do not have access to foreign currencies and where cryptocurrencies have played a very important role and are being protagonists in the crisis.
Beyond the previously mentioned factors, not many people really understand the meaning of crypto and its potential, however, the world population, companies and brands know Facebook, Instagram, WhatsApp and are fixed users of these networks. This represents access to places never seen before in Blockchain technology and cryptography. With the simple fact of giving you access to a wallet without the user having to investigate or carry out any specific process to obtain it, you will be part of the crypto ecosystem, this gives the possibility to millions of people worldwide who earn the Internet life to be able to have job offers without limitations and in a reliable and direct way.
Recognized pages of freelance jobs like “ FIVERR ” offer their rewards through payment processors such as Paypal, this creates a limitation for these users because there are countries where they are not available, there LIBRA will be creating a bridge between employers and employees, they will perform transactions through this token, allowing more direct contact between both parties. Different existing marketplaces and exchanges on Facebook that host around two billion users can be charged in this way.
Attracting a skeptical audience
As a consequence of this revolution, LIBRA will be able to legitimize cryptocurrencies from public opinion, the inclusion of such a large company worldwide as Facebook will allow the paradigm shift of people who associate cryptocurrencies only with illegal activities, money laundering or scams Pyramid scheme. What will immediately capture many more users for cryptos, since these users to change their minds surely want to know more about the other cryptos and how to make money with them. LIBRA represents the perfect example of Blockchain technology improving things.
In addition to this, different companies such as Visa, Uber, MasterCard, among others, will give support to LIBRA, putting their nodes and generating the trust that at least the Bitcoin network cannot guarantee because its greater capacity is in China and any regulation against by the Chinese government could create problems in the network, which avoid these companies that are already established.
Companies and businesses worldwide have not been able to establish charges in cryptocurrencies because they have a cost structure that cannot support losses in their profits due to such high percentages caused by price volatility, which is the reason why Conventional crypto have not generated adoption, linked to the fact that conventional cryptos are for medium-advanced users, LIBRA is designed for the masses, and the masses are on social networks.