The ZuckBuck MetaCurrency

  • After two tilts at a digital cuurencies, Meta is mulling another go to go along with ts vision of the metaverse.
  • DUbbed 'Zuck Bucks', the latest attempt leans towards a radical, simplified and practical implementation in contrast to the current the-more-complex-the-better crypto trend.
  • No block chain and therefore sans associated complexities such as proof of work, zero knowledge, gas fees, L1, L2 coin scarcity, smart contracts etc.
  • Because 'Zuck Bucks' is likely intended for light weight transactions, and not as a challenger to the fiat money system, it can be implemented as tokens within the Meta ecosystem and passed around like messages like in Whatsapp.
  • There will be tokens for content creation, influencer repute and group discussion contributions, game achievement etc.
  • Because tokens are not money, they can be treated slightly less rigorously as as compared to handling money.
  • In a nod to Web3, Meta is also looking into a decentralised identification.: an id and wallet that the user can take anywhere, not necessarily tied to Meta or an exchange.
  • Early days yet, remains to be seen whether Meta can pull this off or will the latest effort will go the same way as the previous two.