The Facebook cryptocurrency system would use a digital coin similar to bitcoin. But Facebook would aim to keep the coin’s value stable.
Facebook cryptocurrency could launch for billions of users worldwide, according to reports.
The Wall Street Journal said the system would use a digital coin similar to bitcoin. However, unlike bitcoin and other similar currencies Facebook would aim to keep the coin’s value stable.
Bitcoin and other cryptocurrencies have been susceptible to wild fluctuations in value.
Facebook is seeking to launch a cryptocurrency-based payments system. One idea under discussion is paying users fractions of a coin when they view ads, interact with other content or shop on the platform. https://t.co/ujF0x1P0kc
— The Wall Street Journal (@WSJ) May 3, 2019
The new currency could undermine credit cards by sidestepping the processing fees that generate much of their revenue. It’s not going to be popular with everyone then.
But how likely is it to happen?
The Journal report cited sources saying Facebook is recruiting dozens of financial firms and online merchants to launch the network. The social network’s plans may include ways to financially reward users who interact with ads or other features.
Facebook said only that it is exploring many different applications for cryptocurrency technology.
Huawei P20 Pro
• Hisilicon Kirin 970, Octa-core
• 128GB Storage 6GB RAM
• Front Camera 24MP, 3x optical zoom
Xiaomi Redmi 6 5.45" 32GB
• 5.45" full screen display
• 13MP camera
• 3GB, 32GB, dual SIM
Iiyama 27" Full HD Monitor
• VGA, HDMI & DP
• Built in Speakers
• FreeSync
* Prices correct at time of posting.
