Over recent weeks, some of the world’s largest institutions have announced crypto-centric offerings. While optimists argue that these organizations are looking to establish a decentralized world, more likely than not, firms like Facebook and JP Morgan are just looking to bolster their bottom line.
A recent research note from an analyst at the London-headquartered Barclays would confirm this.
Barclays: Facebook’s Blockchain Foray To Be Extremely Profitable
Per CNBC, which cited research compiled by Barclays’ Ross Sandler, the Silicon Valley-based Facebook may stand to gain $19 billion in revenue by 2021 for the launch of Facebook Coin (FBCoin). Sandler explained that if worst comes to worst, the social media giant may ‘only’ net $3 billion revenues from the digital asset, purported to be a stablecoin first slated to be centered around use in Facebook-owned instant messaging application WhatsApp.
He based his analysis on the Google Play Store’s revenue per user figure, which amounts to $6. With Barclays expecting for…