Facebook My Implement Cryptocurrency - Comes with Risks
Mobile social media with a payment function is a great use-case, proven by the success of WeChat Pay in China with over 800 million users. If Facebook is able to break new ground through the use of blockchain payments, it would likely catch the attention of cybercriminals. Any roll-out would need to be scrupulously designed for scalability and security. Worst case, this could become a platform for financial victimization on a scale never seen before in the U.S.
I am a fan of public blockchains, especially for the transparency, trust, and some security aspects. But blockchain implementations are not impervious to manipulation, compromise, fraud, and theft. Social Media + Payments + Blockchain could be a powerful technology cocktail that opens up tremendous opportunities for participants, but it must be ruthlessly protected from the onset.