Facebook is working on creating its own cryptocurrency , which will be used by users of the company messenger WhatsApp to send instant transfers, writes The New York Times , citing five anonymous sources, noting the high level of secrecy of the project.
“The Facebook project has reached the stage at which the social network is in talks with cryptocurrency exchanges regarding the sale of Facebook Coin,” the newspaper writes.
According to sources, Facebook employees told cryptocurrency exchanges that they expect to launch their product in the first half of 2019.
It is known that in December 2018, Facebook began to develop its own cryptocurrency, intended for use in the popular messaging application WhatsApp. Initially, the promotion will be focused on India.
The New York Times in today's publication specifies that "Facebook plans to peg the value of the coin to a basket of various foreign currencies, and not to just one dollar."
“Facebook can guarantee the value of a coin by providing each of them with a fixed amount of dollars, euros and other national currencies in Facebook bank accounts ,” adds the publication.
Last week, the founder of the social network, Mark Zuckerberg, spoke in favor of using the blockchain in the process of user authentication.
The founder of Morgan Creek, Anthony Pompiano, has responded to this news, noting that the incredibly talented Facebook team is constantly striving to offer products that change the world.
“If Facebook creates a steablcoin for WhatsApp, it's less about cryptocurrency and more about creating a global dominant product that will change the lifestyle of billions of people ,” wrote Pompiano.
If you’re Facebook building launches, it’s quickly becoming the most used product in crypto.
WhatsApp has over 200,000,000 users in India alone.
The Indian government has been fighting so much, very interesting …
– Pomp ? (@APompliano) December 21, 2018
Obviously, Facebook has the ability to provide cryptocurrency to hundreds of millions of users and make the asset popular in a very short time.
Publication date 03/03/2019
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