Shares in the world’s largest social media platform Facebook have plummeted due to the recent scandal with political analytics firm Cambridge Analytica.
Revelations that Cambridge Analytica influenced macro level events like Brexit and Donald Trump’s 2016 Presidential election campaign has sent prices tumbling from $185.00 USD to as low as $162.50 USD – approximately 12%.
It’s not great news for Facebook who will undoubtedly need to take serious action to address the data privacy of their users. But what has this got to do with crypto you might say?
Blockchain, the decentralised, immutable, distributed ledger behind cryptocurrency offers users complete transparency and enforces accountability onto big corporations like Facebook who act irresponsibly.
Blockchain has the power to completely revolutionise the world and this revolution has already begun.
Blockchain won’t only disrupt companies but entire industries and countries and guess what – it is bringing cryptocurrency along for the ride.
This is one of the many reasons why we are so bullish on cryptocurrency but it is important to remember that not all coins will weather the storm – look at what happened to AOL in the dot-com bubble.
Whilst many investors will be looking to snap up Facebook shares after tumbling some 12%, we’re much more interested in Vechain which is currently down more than 60% from all-time highs.
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