Facebook with its own cryptocurrency - Facebook Coin?

Obsession with owning a cryptocurrency affected not only the largest companies, but also banks. The time has come for another giant, who intends to release digital assets from his arm. The scale of the project will be significant considering, for example, the portal users themselves.

One technology for several applications

It is worth noting that Facebook plans to renew its infrastructure a bit. It will mainly concern the transmission of messages. What's more, under its wings, it wants to integrate three managed applications, namely WhatsApp, Messenger and Instagram. What would the largest social platform gain thanks to such a procedure? It would provide it with a future cryptographic token that would reach about a total of 2,7 billion people using these three applications mentioned above.

Project in progress

Facebook launched its project (as reported by Bloomberg in May last year) led by former president of Paypal David Marcus. According to unofficial information, the American giant employed approx. 50 engineers for this job. The new digital currency would focus primarily on the money transfer market in India.

Stablecoin

What will it be and what role should Stablecoin perform? The main idea of ​​this currency is its strong connection with traditional money. Like currency  JP Morgan is to be resistant to any exchange rate fluctuations that are characteristic of the cryptocurrency market. Stablecoins are to offer a way that allows you to deposit money before purchasing, in tokens faster than a bank account. In addition, the currency in some reports is to be linked to the basket of the world's leading currencies.

If Facebook decides to implement blockchain technology for its services, it will be the largest company using this solution.