Thanks to Facebook’sincessantfloodofwrongdoingmaking headlines nearly daily , any of us would be forgive for forgetting about itspivot to the blockchain . But the social media hulk ’s cryptocurrency is reportedly still on , even as it becomes increasingly clear thatnothing is sacredonline and the cyberspace was maybe a error .
Citing sources familiar with the matter , Bloombergreported Thursday that Facebook’slong - rumoredcryptocurrency is in development and will countenance users to exchange currency through its inscribe schmoose service WhatsApp . But do n’t wait it super before long :
The companionship is evolve a stablecoin — a type of digital currency nail down to the U.S. dollar — to minimize volatility , said the people , who necessitate not to be identified discussing internal plans . Facebook is far from releasing the coin , because it ’s still work out on the scheme , include a plan for custody assets , or regular currencies that would be held to protect the value of the stablecoin , the people said .
The fellowship is presently eyeball the remittances market in India , Bloomberg suppose . A spokesperson for Facebook told Bloomberg the company “ is exploring ways to leverage the magnate of blockchain technology , ” and that its raw crypto outfit headed by PayPal ’s former President of the United States David Marcus is “ exploring many dissimilar lotion . ” Marcus announced in May on — where else — Facebookthat he would be leaving the ship’s company ’s Messenger squad to join its blockchain division .
“ After nearly four incredibly rewarding geezerhood direct Messenger , I have adjudicate it was clip for me to take on a new challenge , ” Marcus aver at the time . “ I ’m lay out up a pocket-sized group to search how to best leverage Blockchain across Facebook , protrude from scratch . ”
A potentially at hand cryptocurrency was n’t the only thing that had WhatsApp in the newsworthiness this workweek . Citing a story from two Israeli NGOs , TechCrunchreported Thursday that WhatsApp is now look at a serious encrypted tiddler porn job on its weapons platform — one that its parent company Facebook has ( surprise ! ) neglect to get its hands around .
Facebook’sYear From Hellcontinues , but its crypto ambitions appear to remain very much alive .
[ Bloomberg , TechCrunch ]
BlockchainCryptocurrencyFacebookWhatsApp
Daily Newsletter
Get the secure tech , science , and civilisation news in your inbox day by day .
News from the future , deliver to your present .
You May Also Like
