Facecoin? Facebook Planning To Launch Its Cryptocurrency: Report


Facebook, the controversial social network, has already integrated payments and its Messenger platform. The company founder and CEO Mark Zuckerberg has also expressed interest in blockchain in the past; Zuckerberg thinks that he can help Facebook and fix multiple issues.

According to a new report from Cheddar, Facebook is exploring the possibility of launching its own cryptocurrency. The company might integrate this digital coin into its payment system and help them transfer money and make payments.

As per sources concerned with the matter, the company is very serious about this project; it started about a year ago with a detailed study into blockchain.

The report states that David Marcus, vice president in charge of the Messenger app, is leading a team of about a dozen Facebook employees. Marcus seems to be a pretty suitable guy as he was the president of PayPal.

It goes without saying that at the moment nothing could be said with much certainty. However, if it turns out to be true, it could mean a big change for Facebook as a company and its users.

It’s worth noting that blockchain, as a decentralized system, could turn out to be very useful for Facebook. It can help the company in areas like identity verification, fraud detection, and making the platform safer.

So, what are your views on this story? Will the blue social network launch “Facecoin” in near future? Share your thoughts and keep reading Fossbytes.

Also Read: Just 12% People Want To Pay For Facebook If Their Data Isn’t Collected And Sold
Adarsh Verma

Adarsh Verma

Fossbytes co-founder and an aspiring entrepreneur who keeps a close eye on open source, tech giants, and security. Get in touch with him by sending an email — [email protected]
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