Facebook is to develop its own cryptocurrency

[BobLender]

Agree with ya. Facebook is pretty shitty in it's security aspects. Moreover, it's administration have leaked information several times already. I think that they need to take care about their private policy before crypto launch

They won't. I am sure.
Since so many users are still blind and consume facebook products with no any awareness.

 

[ShinigamiGummy]

I'm very sure FB can tackle the remittance problem due to its scale of users like no other company. Imagine Asians in West being able to transact( remit) to their home countries for fraction of cents. Currently some companies make billions in fees from trillions of dollar remitted every year for remittance

yep, in this way it make a lot of sense. Making transactions though social network where you spend a lot of time is pretty convenient

 

[Quennd]

I have also found this information in news. It seems that Facebook and WhatsApp are going to develop their own currency. I take that as no surprise and also expecting many other Internet and/or tech-based companies to do the same in the future

 

[CryptoKujira]

Did anyone catch the IBM commercial during the Rams / Dallas game?

At the end of the commercial I heard 'IBM blockchain' as I was walking back into the room.

 

[omnirand]

Sounds like it would make sense. Stablecoins are tough but a large company like them should be able to manage it.

 

[ShinigamiGummy]

I have also found this information in news. It seems that Facebook and WhatsApp are going to develop their own currency. I take that as no surprise and also expecting many other Internet and/or tech-based companies to do the same in the future

facebook and whatsapp now controlled by the same company. Yes, integrating of crypto in social applications is quite popular now, but the safe of such projects must be above the hype

 

[BobLender]

I'm very sure FB can tackle the remittance problem due to its scale of users like no other company. Imagine Asians in West being able to transact( remit) to their home countries for fraction of cents. Currently some companies make billions in fees from trillions of dollar remitted every year for remittance

That's the fact mate.
And understanding of this fact makes me truly sad.

 

[sweeside]

Whatever happened to Tongram? It was suppose to have been released by now

 

[BobLender]

Sounds like it would make sense. Stablecoins are tough but a large company like them should be able to manage it.

Probably. But I remember that Telegram crypto was just a hype.

 

[omnirand]

Probably. But I remember that Telegram crypto was just a hype.

Facebook has more to gain with this. With Amazon having a credit card and Apple trying to make one as well, getting into the payment industry and coupling it with the fact that it's in the global messaging business could be a disruptive move. PayPal is integrating with Instagram, which is owned by Facebook, so it looks like they are looking at the payments industry.

 

[whitebaty]

Well this could be huge so hoping for the best as I have a lot of money on crypto

 

[CryptoKujira]

Well this could be huge so hoping for the best as I have a lot of money on crypto

I'll say it again, simply because nobody wants to believe it.

Adoption does not equal price increase.

Don't know why anyone would think this is big for crypto. Big companies adopting blockchain won't even have their tokens for sale. There is zero reason for their coins to be traded on an exchange.

And just because they are adopting Blockchain doesn't mean BTC or any other coin will magically shoot up in price. If anything, these large companies adopting blockchain show that for most tokes/coins, there is zero need to have these coins available for trading on exchanges.

Blockchain is mainly about financial technologies and as @omnirand mentioned, the payments industry is possibly the biggest money maker on the web. Infinite future revenue once you get businesses on your payment system. All the big companies want in on that.

 

[TheStrandDiaries]

We can't trust them with our privacy. How can we trust them with our money?

 

[19501]

Its dope man!

 

[BobLender]

Facebook has more to gain with this. With Amazon having a credit card and Apple trying to make one as well, getting into the payment industry and coupling it with the fact that it's in the global messaging business could be a disruptive move. PayPal is integrating with Instagram, which is owned by Facebook, so it looks like they are looking at the payments industry.

I see they all gonna to be connected and earn big money then.

 

[ShinigamiGummy]

Probably. But I remember that Telegram crypto was just a hype.

I don`t think so. I rather believe that Durov again wants to create something "for the people and privacy." He is a genius.

 

[BobLender]

I don`t think so. I rather believe that Durov again wants to create something "for the people and privacy." He is a genius.

okay. can you say that about Zuckerberg as well then?