Facebook is again in limelight because of the ban it has pushed on Bloom!
Bloom being a popular platform to access a quick log-in to the social websites and various online services is now banned from running cryptocurrency ads on facebook.
Do you want to know why? Facebook has this wrong idea that every firm, company or organisation which concerns with cryptocurrencies or block chains has to be timely filtered out from its platform.
Back in January 2018, the cryptocurrency ads were banned by this giant social media platform and again in June this year, Facebook was quite affirmative about the cryptocurrency ads to be freely promoted on its platform.
But, even then, the media platform isn’t very much at ease.
Timely, it has been coming out as a hurdle for crypto-related companies, products and services to be largely promoted on its very platform.
At present, when Bloom has already spent 3 lakh dollars starting from the year 2017 upon the cryptocurrency ads on facebook. Now, the media hub is furrowing on the ads which the organisation runs on its platform. It’s all because Facebook has a trusting issue on the cryptocurrency market at large.
Well! Cryptocurrencies aren’t quite easy to understand at first. And, seeing the pace at which the technological advancements going on in this market. It’s possible for governments, authorities and even social media platforms to act as essential barriers upon the digital world of cryptocurrencies.
Bloom has a view that a ban on cryptocurrencies ads on facebook is because of another reasons.
Let’s catch up with the following viewpoints:
- Bloom suggests that facebook has did so in respect to house its own instant log-in features. Former has a quick and smarter log-in facility to easily get logged into various online platforms. And, it is coming out on a competing front with FB.
- The firm thinks FB has done so to kick out other platform (s) and come first! Cryptocurrency ads were banned specifically those which relates to the market of its products and services.
- Bloom is in direct hands-on with the instant identity features of FB. It creates a unique Bloom ID which logs-in users to an array of online source. It is highly efficient in this job and somehow, FB knows this!
- Bloom provides insurance facility to its consumers along with the identity feature backed on the Ethereum block chain. But, this doesn’t mean that it supports the promotion of crypto-related services on the social media platform.
Thus, so to filter out a list of hackers, wrong doers and misusers. FB has been putting a halt on the promotions which voice cryptocurrencies!
This could be a complex issue with Bloom and its technical hikes!
Or, Facebook is still in its ‘work in progress’ tenure to reflect on cryptocurrencies at large.
What do you think?
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