Is Facebook launching it's own cryptocurrency?


Want to know what Zucks is up to now? Our money is on cryptocurrency If the New York Times are correct, Facebook will launch its own version of cryptocurrency this year which will allow WhatsApp users to send money to their friends and family across the globe without the massive administrative fees. Why would they do this, you ask? Facebook need new revenue streams and this could be the next big thing. Advertising is one thing but cryptocurrency is something entirely different. If they succeed, Facebook Coin is likely to be the most used cryptocurrency in the world. It’s not the first time Facebook have tried to get involved in currency, you might remember Facebook gifts or messenger payments. The reason these two faded away was because they had issues making the currency work internationally and in real life situations. Think FarmVille versus currency exchange. At the time, cryptocurrency was also very new and a lot of the initial issues needed to be ironed out. But as Cryptocurrency becomes a household name it becomes more and more likely that this will work. Another key difference is that this time, it’s latest version of cryptocurrency uses Stable Coin, the new kid on blockchain. It’s seen to be more stable as it’s pegged to traditional currency such as the US dollar. The leader of Facebook’s latest cryptocurrency efforts is former PayPal President David Marcus and the company is currently hiring over 20 blockchain specialists. Proving that they mean business when it comes to this new project. It could potentially create an entire new multi-billion dollar revenue stream for the business and create the possibility that the organisation could get into lending, remittance and physical payments. The issue with it is, trust. Will the general public trust the tech giant given its past issues with privacy. Will the benefits outweigh the risk. Only time will tell. Facebook is yet to comment on this but tech experts across the globe are ready and waiting to see how this one unravels.

#facebookmarketing #Facebooknews #Cryptocurrency #Socialmediamarketing #Socialmedianews

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