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Is Facebook Getting Into Cryptocurrency?
Once upon a time, no one knows about Facebook. That is history. Will you find any people who don't know about Facebook now? Source I was surprised when I took a picture with my cell phone and my little nephew said, "share this on Facebook." You know about cryptocurrency and blockchain. If you ask general people about blockchain, they have no idea what you have just said. But the way people are getting into cryptocurrency, you will not find any people who do not know about it in the future. You can send message using apps like WhatsApp or Instagram. How about if you could send currency using the app just like you send a message? So is Facebook going to get into cryptocurrency? I read some articles today. Hope we will see something like this in the near future. "Facebook remains interested, with a 50-person project underway to build a technology that'll let members send each other digital money, the New York Times reported Thursday." Source According to Bloomberg report, Facebook would involve a cryptocurrency that's price would be stable. If you can convert your fiat currency into cryptocurrency and send it to your friends and family, that would be great. If you use the traditional system to send money, you have to pay a high fee. Using cryptocurrency, you can send currency anywhere at any time without any fee or little fee. Source Although Facebook did not comment detail about the project, it confirmed its blockchain work. The company said, "Like many other companies, Facebook is exploring ways to leverage the power of blockchain technology. This new small team is exploring many different applications." Source They are in a discussion with cryptocurrency exchanges. Hope we can know more about it in the future. So what happens when Facebook launches its coin? How would that impact in the crypto market? What do you think? Please feel free to express your thoughts in the comments below. Thank you so much for taking the time to read this post. If you find this post useful, please follow me @RezoanulVibes. That's it for now. See you soon. References 1 and 2
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