Friday , August 19 2022

Here's what is known so far about the cryptocurrency of Facebook CryptoNews t


The company has Facebook Inc. plans to launch cryptocurrency to anchor its users could pay for it for services and products from its platform. With Libra Project denomination, the company is developing its cryptoactive enterprise in the middle of confidentiality, as continuously reported.

Despite this, various information about the project was revealed over time, revealing some details about the nature of the project, its dimensions and potential applications. Next, what is known so far about Facebook Coin.

Basket of assets

First, in mid-December, Bloomberg reported on the company's intentions running Facebook, Instagram and WhatsApp social networks. So they were referring to an early stage of development for what would be a cryptocurrency that WhatsApp users could send payments to.

That information seems incomplete, according to a report in the Wall Street Journal on Thursday, 2 May. According to this publication, the scheme will launch more than a transmission system, whole pay platform has its base on Silver cryptocur, which would include its own stable stable t. In addition, the company Mark Zuckerberg runs in talks with companies such as Visa, MasterCard and First Data, as well as large online stores, to support the project.

Two months earlier, he was taught through another New York Times report, whose sources remain anonymous, that is Facebook cryptocurrency would not be connected to US dollars alone, as was originally said. Then he would be backed by a basket of currency among which he was also the euro.

In the same note, mention was made of the integration of the three major networks that Facebook Inc. has. manage them in the future, so the cryptocurrency would reach more than 2.7 billion people using these networks.

For Libra project, Facebook has offered to collect around 1,000 million pounds. As reported by journalist Nathaniel Popper in early April, to achieve this goal the company would negotiate with venture capital investment companies.

The same correspondent, author of the book Digital Gold (one of the first on Bitcoin), noted that the company was within the company. the use of these funds as a guarantee treasury for the support was discussed from the cryptocurrency.

Reward system

The information provided on Thursday, 2 May also highlights a new feature of the project. Facebook social network users it can receive awards in the anchor cryptocurrency by looking at publications, having interaction and buying products on stage.

With more than 1,500 million active users, according to data provided by Zuckerberg itself, access to the cryptoactive would be huge from the start.

However, Facebook's reputation collapse after Cambridge Analytica scandal could stop these plans. In particular, taking into account that the system would work with the same data user from each member of the network. This would go against the privacy terms promoted in the public block blocks.

Facebook before your anchor cryptocurrency

The company plans did not start Facebook Inc. with silver cryptocur and blockchain technology with the announcement that it is a anchor cryptocurrency. Previously, they had already enabled payments with lower case letters to be sent via Facebook Messenger after integration of LiteIM portfolio.

Also, a little bit, it was known that the conformation of the team was the company that put Silver cryptocur in front of their plans.

Recently, we checked that the company, in the job search portal,, has more than 20 jobs available in the blockchain area. Previously, Facebook was looking for a commercial adviser for its blockchain project. That is, the schemes can cover more than what is known to date.

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