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Facebook May Be Creating Its Own Coin for International Payments

Facebook May Be Creating Its Own Coin for International Payments

Facebook is thinking about creating a team dedicated to using blockchain technology on its platform.

But now, a new statement from Cheddar’s Alex Heath shows that Facebook is “very serious” about launching its own crypto coin as well. This is pretty much proof that cryptocurrency and blockchain tech is the future. With a giant like Facebook adapting its technology, it goes a pretty long way to proving the usefulness of this evolution.

Heath states that sources say Facebook wants to use their own coin to make payments easier on a worldwide scale of their platform:

“I think the allure of this to Facebook is being able to be this global payments and digital wallet infrastructure for its more than 2 billion users around the world. So being able to facilitate transactions across borders without the need for government-backed currency – that’s something that we’ve seen Telegram doing with its initial coin offering.”

Facebook has yet to confirm nor deny this rumor though:

 

“Like many other companies, Facebook is exploring ways to leverage the power of blockchain technology. This new small team will be exploring many different applications. We don’t have anything further to share.”

Either way, it’s exciting news and once again proves the power of blockchain tech.

Analytical. Paranoid. OCD. Interested in the world of crypto and how it affects our current world and future. New to investing, not so new to know how crypto works and influence the world of fiat currency. Blockchain is my second wife.

Disclaimer: Our authors may hold active positions in one or multiple cryptocurrencies discussed on this news portal. Opinions expressed at AWSMO are NOT investment advice and any investment in one or more cryptocurrencies may be high-risk and extremely volatile. Please due your due diligence before making any investments in any cryptocurrency. Your investments are your own risk and you assume full responsibility for your actions.

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