Mark Zuckerberg Bids to Bring Crypto Mainstream, a Shop in Every Instagram

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Mark Zuckerberg, Facebook’s CEO, has laid out his vision 2030 which prominently features cryptos.

“Decentralizing Opportunity” is one of his goal. We quote in full what he said on that aspect:

“In the last decade, the fastest growth in the economy has been in the tech industry. In the next decade, I expect technology will continue to create opportunity, but more through enabling all of the other parts of the economy to make better use of technology and grow even faster.

The area we’re most focused on is helping small businesses. Across our services, more than 140 million small businesses already reach customers — mostly for free.

Today this takes the form of an entrepreneur setting up an account on Facebook, Instagram, or WhatsApp, and then either communicating with people for free or buying ads to get their message out more broadly.

Over the next decade, we hope to build the commerce and payments tools so that every small business has easy access to the same technology that previously only big companies have had.

If we can make it so anyone can sell products through a storefront on Instagram, message and support their customers through Messenger, or send money home to another country instantly and at low cost through WhatsApp — that will go a long way towards creating more opportunity around the world.

At the end of the day, a strong and stable economy comes from people succeeding broadly, and the best way to do that is to make it so small businesses can effectively become technology companies.”

Facebook announced last year their plans to launch a blockchain based cryptocurrency, Libra, that was to be backed by a basket of fiat currencies.

The above statement suggests Zuckerberg intends to continue that project with the aim of incorporating payments functionalities in the social networks that he runs.


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