Crypto Guide

Facebook Cryptocurrency might be the next big thing and Facebook might be known in crypto hovers for banning ICO promotions; however, a Facebook cryptocurrency might come sooner than you might suspect. Inside Information suggests that Facebook may truly be thinking about creating its own cryptocurrency keeping in mind the end goal of allowing its billions of users the likelihood of making an electronic payment. An unknown source purportedly acquainted with the issue gave out that the notice that they are intense concerning it. Facebook has generally not been shy about sharing its guide but never has blockchain innovation showed up in any public presentations. Rather, the organization has evidently been keeping their mouths closed with respect to any future arrangements for a cryptocurrency. All things considered, an inside post not long ago purportedly declared Facebook’s blockchain activity to the organization’s employees —however it did go into specifics. In the same way as other different organizations, Facebook is exploring ways to leverage the power of blockchain technology. This new little group or teams will be exploring various applications. Insiders acquainted with the circumstance additionally asserted that the social media giant — unlike Telegram has no plans to hold an initial coin offering (ICO) and will probably not launch any cryptocurrency in the coming year. Besides, one source clarified that Facebook would in all likelihood acquire an existing blockchain and cryptocurrency development with an end goal to create its own. In addition to allowing for payments, blockchain technology could also assist the company in identity verification and data encryption. ‘Starting from Scratch’ The tip comes after David Marcus, who has overseen Messenger’s development since 2014, began heading what he describes as a “small group” tasked with exploring potential blockchain technology applications. Wrote Marcus in a post: I’m setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch. As noted, Marcus himself is an early Bitcoin investor. Six months ago, he joined the board of Coinbase — one of the most popular crypto exchanges in the world. However, Marcus stated in February that Facebook has no plans to integrate cryptocurrency into its applications, explaining: Payments using crypto right now is just very expensive, super slow, so the various communities running the different blockchains and the different assets need to fix all the issues, and then when we get there someday, maybe we’ll do something. That “maybe” appears to have changed into a “definitely.” What do you think about the social media juggernaut potentially creating its own cryptocurrency? Be sure to let us know in the comments below!