Facebook To Launch Its Very Own Cryptocurrency

Facebook To Launch Its Very Own Cryptocurrency

Just days after Facebook’s massive F8 conference, where founder Mark Zuckerberg unveiled a new dating feature, new reports are touting the possibility of the social media platform launching its own cryptocurrency.

The benefit of launching a cryptocurrency is to enable users to make seamless online payments without leaving the app.

According to Gizmodo, Facebook has spent some time looking into blockchain technology, which is imperative in launching cryptocurrency.

The ‘decentralised ledger system’ would be similar to other players in the market, such as ethereum, ripple and bitcoin.

As per The Australian, Zuckerberg has already gotten the ball rolling, tapping Facebook’s previous head of messaging David Marcus to lead the project.

Marcus previously worked at Elon Musk’s company PayPal, giving Marcus a strong background to head up Facebook’s cryptocurrency.

Speaking on the move, Facebook said in a statement, “Like many other companies, we are exploring ways to leverage the power of blockchain technology.”

Adding, “This new small team will be exploring many different applications. We don’t have anything further to share.”

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