The collapse of Facebook, Instagram and WhatsApp and a rise in Bitcoin

On the fourth of this October, a global outage occurred in the most famous social media, followed by the collapse and stopping of Facebook , Instagram and WhatsApp from working!

The disruption caused a global shockwave in digital technology, causing the loss of millions of US dollars, which many did not imagine, while for others it was an occasion to reflect on the extent of the economic power of digital technology.

The occurrence of problems with social applications such as WhatsApp , Facebook and others, proves to us the importance of decentralization in the services provided to us as individuals/institutions.

This also motivates us to remember that the existence of Bitcoin and digital assets aims simply to end the dependence of individuals and institutions on central services, and to switch to the use of decentralized technologies - also called Web3 - as one of the means of changing the way the world works for the better.

The results of the collapse of Facebook, Instagram and WhatsApp

After the concern that swept the whole world, governments and peoples, the specialists thought of a list of Web3 technologies/projects that will be widely spread in the future, such as:

• Decentralized social media applications, such as Signal , which is a safe alternative to WhatsApp .

• Decentralized payments such as Bitcoin , which is a safe alternative to banking and financial transactions, and Ethereum , which is one of the most important projects specialized in finance, which allows programmers to apply their creativity through smart contracts.

• Monnero is one of the most important projects relevant financial transactions encrypted, concerned with privacy, and is considered an alternative to paper for cash , which provides privacy.

• Online storage in decentralized ways such as Blockchain , IPFS , Filecoin and Arweave

always remember:

Not everyone in the field of cryptocurrency aims for profit, as it is considered an integrated field of services, which are used on a daily basis, and include under the name Web3 .

Following the global collapse of the most famous social networking sites, Facebook founder Mark Zuckerberg said that the outage lasted for a few hours, and he thanked the scientists and specialists who worked hard to solve the problem quickly and accurately.

The global reaction to the post was sympathetic, happy and cynical!

And economic news networks stated that this global outage, which lasted nearly six hours, caused a loss of $7 billion for the owners’ companies , while the prices of digital currencies were not affected by this event at all. On the contrary, the price of Bitcoin closed on this day with an increase Relative at $ 49,200 .

Which confirms that decentralized currencies are the future of the economy, and are the most capable of withstanding all circumstances.