Facebook says: own stablecoin should come
Now it’s out. Facebook is actually planning to introduce its own digital currency. In connection with the messenger service WhatsApp. First details have now become known.
Whatsapp users should pay with the coin in the system
Although this year was not and is not necessarily the best in the history of crypto currencies: More and more companies are recognizing the opportunities offered by the blockchain and digital currencies. Hardly a week has passed since our last report on the alleged Facebook plans was published. The Internet giant had not yet publicly commented on the rumors that it was working on its own crypto currency. Just in time for Christmas a statement finally followed. The development department has been working on a currency for the service WhatsApp, as it is called for example at the portal Bloomberg today. For some weeks now, the company has been allowing users to send Litecoin via its own messenger.
Decision in favor of a stable coin brings security
It is also known that the social media giant Bitcoin, Ripple and other currencies of the current Top 10 want to compete with a stable coin. This in turn is pegged to the US dollar, at least that’s how the statement is currently interpreted in the media. The target group is extremely large with about 1.5 billion Whatsapp users around the world, which could increase interest in the crypto topic among people who have had little or no contact with the industry.
India in particular should be the area of application for the token
The sources report, however, that Facebook is said to have had a certain environment in mind during its development. The coming currency seems to be targeting India’s rapidly growing market in particular. Within the app on the smartphone, the new token can then be used for payment transactions in the future. India is an obvious area of application in this respect, since it is already paying more than in many other countries by app in everyday life. Increasingly also via blockchain systems. It remains to be seen whether the example of Facebook will also set a precedent for other global players in the social media sector or online commerce from next year.
