Facebook is adding subscription capability for Facebook applications and ending its use of "Facebook Credits," its virtual currency. Instead, Facebook will switch to payments denominated in local currencies.
Some might argue the move is designed to make it easier for Facebook applications to integrate with other apps for purposes of shopping and commerce. "Real" currency is the coin of the realm for e-commerce, not virtual currencies, generally speaking.
Sunday, June 24, 2012
Facebook is Introducing Subscriptions and Ending "Credits"
Gary Kim has been a digital infra analyst and journalist for more than 30 years, covering the business impact of technology, pre- and post-internet. He sees a similar evolution coming with AI. General-purpose technologies do not come along very often, but when they do, they change life, economies and industries.
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