Should Facebook credits become a currency?
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Should Facebook be in discussions with banks and states in order to allow exchanges in credits for pound e.t.c
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Answer:
Facebook credits are already a currency of sort. They should never work with nation states and should not charter banks. They should create disincentives for conversion to national currencies and create incentives for users to 'create', 'earn' and 'be rewarded' more credits as part of the creation cycle of the currency. They should work to create more demand on the redemption cycle with businesses and adjust the discount rate (aka fee or tax depending on your point of view) to increase velocity of interchange. They should consider implementing a demurrage charge to businesses to prevent hoarding/saving and encourage businesses to use them for rewards and incentives. This should create sufficient perception/feelings of well-being or wealth among users, thereby reinforcing the creation-redemption-destruction demand cycle. Adjustable discount rates for usage scenarios and merchant types can then be used to increase adoption rates among specific industries and scenarios that they want to target.
Stephen T Cannon at Quora Visit the source
Other answers
Looks like it could happen. Once central banks realize the value of intangible assets(virtual goods) and Congress/Senate get out the way.
Ray Garcia
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