Facebook is planning to launch own cryptocurrency. Social networking website Facebook is planning to launch its own cryptocurrency soon. This information is given on behalf of those who are involved in this scheme. At the same time, a technology website claims that the social media company is thinking seriously about bringing the cryptokaryanis.
Facebook, which has more than two billion users worldwide, can use the crypto taxation to pay only on its platform. At this time, the Facebook market is expanding, where users can buy and sell anything.
Facebook has around two billion users worldwide and by launching a cryptoconcity, they will be able to make payments using virtual currency like Bitcoin.
Facebook is planning to launch own cryptocurrency
Facebook Messenger’s executive David Marcos said in a post, “Facebook has a team of just under twelve people working on the project. Although small at first, the team is comprised of key Instagram executives including James Everingham, Instagram’s VP of Engineering and Kevin Weil, Instagram’s VP of Product. Facebook said in its statement, “Like many other companies, Facebook is also looking for ways to take advantage of the blockchain technology power. Our new small team will search for many different applications. We have nothing else to share. ”
If FB would want to create a new currency, it would certainly make it easier for customers in different countries to buy and sell through the platform without extra conversion fees. It could also be a transaction resource for Facebook buyers in countries with more volatile currencies.
This announcement has been very surprising, since two months back, FB joined the band wagon of banning cryptocurrency based ads. Now Facebook planning to launch its own cryptocurrency provides to other cryptocurrencies in the market as well.
Facebook has remained tight-lipped with regards to the project thus far. It seems as though the team is still researching potential applications of the blockchain, but the future looks bright. Facebook has joined the crypto forefront and has a dedicated team of talented individuals exploring the possibilities of blockchain technology.