All About FAANG That Will Win The Blockchain War
Ever heard of FAANG? They are the current buzzword in blockchain technology. Here is a detailed write up.
What Is FAANG?
The two magic words that can move markets for investors is blockchain and FAANG (Facebook, Amazon, Apple, Netflix, Google ). The stock seems more attractive with the mere association of stock with these two words.
Due to the future bullish prospects, the investor enthusiasm for blockchain and FAANG is challenging. As FAANG dominates the internet ecosystem, the revolutionary blockchain is all set to reinvent the internet with its associated services. Below is a brief primer on how the FAANG companies are preparing for the blockchain future.
Facebook Inc. (FB)
While recently announcing a high profile reorganization, Facebook is moving the prominent executives from successful product lines, while placing them into positions of authority throughout the newly formed blockchain group. Previously headed the company’s successful messenger services, David Marcus says his small group intended to explore how to leverage blockchain across Facebook that is starting from scratch.
Stemming from an inversion of the current business model, the threat to Facebook is that it makes money selling user data to advertisers. Envisaging users to have personal control of data and share it only with parties that they trust, is the blockchain world. Before the future comes to pass, it is still a while according to Spencer Bogart, a venture capitalist at blockchain capital. He says blockchain is not an existential threat to Facebook today, and it might become one in the future which is why they have to be smart and stay engaged.
Amazon.Com Inc. (AMZN)
With its competitor the Walmart inc, making news as it announced a supply chain implementation of blockchain last year, it enables customers to determine the provenance of customer goods. Seeming to take a different route, Amazon, the Seattle based company launches AWS blockchain templates with a recent cloud service deploying frameworks for Ethereum and hyper ledger on the cloud platform recently. As a part of its plan to offer blockchain-as-a-service, it is the offering of competitors to Amazon in the arena including international business machines corp. And oracle corp.
Apple Inc. (AAPL)
In this context the iPhone maker who is almost characteristically silent, when it comes to the blockchain moves, the CoinDesk has discovered that a patent filed by Apple that makes use of blockchain technology to create time stamps and also in the patent application where the company owns up that blockchain technology is used to build resilience in the distributed system of elements similar to SIM or MicroSD card. As a part of multi check architecture, the timestamp system is proposed by apple, with them being verified as another system added to the main chain.
Netflix Inc. (NFLX)
Netflix is the most threatened by blockchain of all the companies within the FAANG group. Having not made any announcements regarding investment in blockchain, the video streaming company is hearing the drum rolls for its demise due to blockchain that is already begun. While this scenario was outlined in a popular post by Riswan Virk, where a decentralized platform using blockchain technology can get rid of centralized architecture as well as traditional gatekeepers of the content business. Netflix is still the gatekeeper to content on its platform while it has displaced cable and disrupted linear television viewing habits. Before the content can be viewed, the content makers as such need its stamp of approval with the decentralized world, having content makers and technology entrepreneurs making and streaming their own content on a subject of their choosing. With tokens on an entertainment network, the token model also upend existing business models making it possible to purchase individual shows.
Alphabet Inc.’s subsidiary Google plans on using blockchain to secure customer data on the cloud services. With this idea comes a white label version for companies to use their servers. Investing in blockchain startups, Google has the venture investing arm Google ventures, where companies in the portfolio comprise a diverse palette. As an example is the crypto wallet provider LedgerX as one of their investments as the bank transfer company ripple. Though with Facebook, it is still too early to quantify the impact of investments on the bottom line of Google in the near term.
With the FAANG moving towards decentralization, there is hope for the future as theses tech giants are sure to cause an impact on the stock markets. Together with other companies, filing a patent for exciting applications, they are sure to push the industry towards decentralization as used on cloud services. The future seems to be promising as more and more customers join the bandwagon to the successful application of blockchain technology.