This story originally appeared on Bloomberg. The concept is to create a digital currency that will be more stable than Bitcoin. We don’t have anything further to share," a company spokesman said in a statement to Bloomberg.Īccording to Stable.Report, a website that tracks stable coins, there has been a boom in the crypto projects during the past one year. This new small team is exploring many different applications. The monopoly big tech has on you and your data needs to be transparent. Social Capital X Social Capital X Social Capital X. Your messages are stored on centralized servers to create a profile of your interests, spending, habits, geolocation, groups etc. "Like many other companies, Facebook is exploring ways to leverage the power of blockchain technology. WhatsApp users alone send 65 billion messages per day. The social media giant has been expected to make this move in financial services after it hired David Marcus, former PayPal president to run the Messenger app who was later made the head of the company’s blockchain initiatives.įacebook has been advertising its hiring procedure on Linkedin and has so far hired 40 people.įacebook-owned WhatsApp boasts a billion users WhatsApp co-founder asks users to delete Facebookįacebook is far at the moment from releasing the coin, but the team has begun working on the strategy which includes a plan that would help protect the value of the stablecoin. Facebook-owned WhatsApp is popular in India with more than 200 million users. ![]() ![]() The focus would first be on the Indian market as the company develops a ''stablecoin'' - a type of digital currency that is attached to the US dollar. With the rise and fall of Bitcoin dominating many headlines, it was a matter of time before Bitcoin entered the mainstream.Īccording to Bloomberg, social media giant Facebook is working to make a cryptocurrency that will allow users to transfer money on WhatsApp. A man poses with a smartphone in front of displayed Whatsapp logo in this illustration September 14, 2017.
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