Facebook is Shopping “Facebook Coin”
The NY Times recently published an article detailing Facebook’s attempt to enter the world of digital coins.
Before I get to that, Facebook made news in February when it acquired Chainspace.
I wrote about it here.
Regarding Chainspace… it’s is a blockchain startup founded by researchers from the University College London. They’re building a decentralized smart contract system that could facilitate payments and other services.
That makes sense for Faceebook, which has been rumored to be developing a stablecoin that can be used through its WhatsApp messaging app. The rumor is it will roll out in India first.
Now, back to the NY Times article…
Facebook has reportedly employed over 50 engineers to develop its cryptocurrency.
It’s being kept tightly guarded. Supposedly those working on this project have a special office.
It’s also rumored Facebook’s stablecoin will be tied to three national fiat currencies, not just one.
And finally, according to anonymous sources, Facebook is already shopping the “Facebook coin” around to crypto exchanges.
Obviously, Facebook getting into crypto would be huge news, even if you think Facebook sucks like I do.
Between Facebook, WhatsApp, and Instagram, 2.7 billion people use Facebook services every month.
or Abra
and trade cryptos on Binance and Bibox...
And delegate SP with MinnowBooster
This could be the best worst thing to happen to the crypto space.
On one hand, we can expect a large increase in adopters. On the other hand, it's Facebook. How can anyone trust them with money when they have already shown that they cannot be trusted with data and privacy?
I just hate Facebook
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Amen
Yes, but will Fakebook users want to pay to use it and get likes? I think not...
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I certainly wouldn't pay for likes...
But payments + chat can be very powerful as evidenced by WeChat
We cannot deny that FB shitcoin can be good for the market.
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I would buy a lil bit just because of the brand name of FB if they came out with a smart contract platform. I don’t have a FB account I deleted mines years ago but can see value in the company.
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Oh, this is the kind of post I hate to love. There is no denying it!
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Perhaps Facebook sees the writing on the wall with other cryptos gaining ground...including the potential of Steemit
That's a great news. Now every company has a great interest to build their own crypto. Yes, Facebook can also build it. Not bad for us, another succes for crypto world.
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