Facebook has become the centerpiece of digital life in China. People use it for everything you can think of; tickets, passes, rides, payments, buying, selling, social events, etc. If this spreads worldwide, it can ultimately put other platforms and services out of business such as Uber, Amazon, Craigslist, Paypal, and much more.
Facebook is already developing its own digital currency which they did not provide a lot of information on, but it will soon require people to link their bank accounts to their Facebook profile’s if the users are wanting to use the digital currency factor for commerce. If people can make payments over messaging, it will keep users interested to complete sales rather than using Apple, Amazon, eBay, OpenTable, Yelp, Snap and PayPal.
