All of us know very well Facebook had lots of controversy over cryptocurrency. After lifting the ban from crypto ads (ICO's promotion and all) on their social media platform few months ago, Facebook was in news with a rumors of buying Coinbase. This rumor got pumped while Coinbase stated that they wants to reach billions of people who use and wants to use cryptocurrency. So there is nothing very much better than to have partnership with Facebook who have billions of users.
Again Facebook is in news with a rumour about Developing a Cryptocurrency for WhatsApp Transfers, as Sources Say.
Facebook is aware about the power, use case and potential of the Blockchain so they have their own blockchain exploratory group which is working in the leadership of PayPal president David Marcus.
After hiring former PayPal president David Marcus to run its Messenger app in 2014. In May, Marcus became the head of the company’s blockchain initiatives.
After taking over Whats App, Facebook continuously working on it's development. Know, Facebook Inc. is working to develop a cryptocurrency in order to let their user to transfer money through it's encrypted messaging app "Whats App".
As the volatility of price is very high in cryptocurrency so they are not going to use Bitcoin they are working to develop a Stablecoin which is pegged to the USD to reduce price volatility (Stablecoins are the kind of cryptocurrency which is pegged to USD means the value of 1 Stablecoin is equal to 1 USD)
According to some resources Facebook has been expected to focus their remittance market in INDIA first because India is the second largest country after China having more than 500 Million active internet user. The second main reason is that in India have over 200 million what's app users and Indian people sent $69 billion home from abroad in 2017, according to report of World Bank.
Just imagine what happened if Facebook obtain Blockchain technology for its social media platform and start to monetize their content like Steemit and also decentralized their platform.
Definitely it will add more importance in cryptocurrency with a huge pump in price.
Although, these are just rumours until any official announcement from Facebook. If there is mass adoption of blockchain we will going to see all big companies like Google, Tweeter and Instagram having their own cryptocurrency on their platforms. Not yet but sooner or later these things are going to be happen.
What are you thinking about this?
Is Facebook really going to launch their own crypto coin?
Please share your insights in comment section below.
Will wait for your replies.
Stay informed my friends.
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I will be following this move of Facebook.
Thanks for this good update.
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I’ve heard rumors about Facebook coming out with their own cryptocurrency, but they have other issues that need to be handled. Such as losing people’s data and the hacks that have had to deal with in the recent past. I think they lost a lot of trust in those departments, so it would be interesting to see how people would react to their doin.
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moving away from conventional share market to more liberal and decentralize market of crypto currency.
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