Microsoft’s browser Bing has revealed that it blocked over 5 million cryptocurrency-related ads during 2018 after its announcement last year that it was to start banning such advertising on its network.
The numbers were announced in Microsoft’s “Ad quality year in review 2018” published on 25 March, citing cryptocurrency as a “prime target for fraudsters and scam artists to defraud end-users”, despite the proven millions of legitimate users of cryptocurrency around the globe. The company’s official stance was clarified in an official post:
“Because cryptocurrency and related products are not regulated, we have found them to present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviors, or otherwise scam consumers.”
It appears that despite the bans on crypto related advertising announced in tandem by the likes of major social media sites and companies such as Facebook and Google in January and March of last year, both Twitter CEO Jack Dorsey and Facebook’s Mark Zuckerberg appear to have a conflicting stance on cryptocurrencies, with rumors afoot that Facebook is looking at developing its own cryptocurrency.
The as yet unconfirmed move by Facebook to develop a cryptocurrency for global payments has been cited by multinational banking group Barclays as a USD 19 billion opportunity for the social networking giant. The company’s WhatsApp-driven crypto global payments system reported by The New York Times has still received no comments from Facebook but Barclays is already speculating on where this move, if it happens, could take the company’s profits by 2021.
Dorsey recently revealed his fascination for Bitcoin after studying its “beautiful” white paper. He iterated that Bitcoin and blockchain is the future of world economics and will bring in a new technological revolution.
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