Facebook Working On their Own Cryptocurrency

cause of the multiple data breach year, facebook Inc is working on their own cryptocurrency to regulate and allow users to transfer money via whatsapp.

according to the news they are developing a stablecoin — a type of digital currency pegged to the U.S. dollar — to minimize volatility but facebook is still far to release their coin because the have to plan strategy to keep the value of the stablecoin.

according to the employee title on LinkedIn they have around 40 members for blockchain related tasks.

“Like many other companies, Facebook is exploring ways to leverage the power of blockchain technology,” a company spokesman said in a statement. “This new small team is exploring many different applications. We don’t have anything further to share.”

Whatsapp was more popular after they launched their app with end to end encryption. And the year 2018 was a golden year for cryptocurrencies. so personally i think the effort of facebook will has a great potential to grab the market more and more.

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