Will facebook compete with Steemit

There have already been a number of social media platforms based around Blockchain service such as Steemit. However, the firepower of a company like Facebook, which reaches over one billion people on a daily basis.
Zuckerberg’s recent message in the post which made mention of cryptocurrencies was based around “fixing important issues in technology, media and government.” And, indeed, a technology like Blockchain is being heralded as revolutionary within those fields and with the backing of such an institution, there could be scope for rocketing growth in adoption and recognition for cryptocurrencies.