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‘Facebook Coin’ Reportedly Coming in First Half of 2019
Facebook Coin could be launched much sooner than expected. According to a recently published New York Times (NYT) report, which cites multiple anonymous sources, Facebook employees are already shopping the coin to cryptocurrency exchanges while ‘trying to get the product out in the first half of the year.’
2.7 bln users
Back in December, Bloomberg published a report, which reveals that the social media giant plans to roll out a stablecoin for WhatsApp. However, the NYT reveals that the company plans to integrate the cryptocurrency into two of its other major properties – Instagram and Messenger, which would give the coin an unprecedented level of exposure. The audience of the three aforementioned apps reaches 2.7 bln monthly users.
Control issues
As of now, very little is now about Facebook’s much-hyped foray into crypto, including the level of control that one of the most valuable companies in the world will retain over its cryptocurrency. If Facebook wants to place emphasis on decentralization, which is the whole point of Blockchain technology, it will harder for them to profit off their project.
A hiring spree
Facebook’s Blockchain team is currently expanding, and now they have multiple job offerings in that niche. The social media behemoth launched a team for exploring Blockchain technology back in May with David Marcus spearheading the effort.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Dan Burgin
Vladislav Sopov