Facebook`s Cryptocurrency – What Can We Expect?

by Elsa Stringer

Mark Zuckerberg, the founder of the most popular social network, Facebook, is introducing us with some new plans for this app. According to some sources, Facebook is developing its own blockchain, so we can maybe expect to have a new cryptocurrency on the market.

Various sources are saying that Facebook is looking for partners, especially online sellers, and financial companies, in order to create a crypto market. Zuckerberg’s expectations from potential partners are possible investments in an investment fund. It is estimated that the fund will reach over 1 billion dollars on the stock market. It will present a great background for a new cryptocurrency that will be a competition to bitcoin and similar crypto coins. The biggest convenience will be a small fee for online sellers.

source:arstechnica.com

It looks like this plan from Facebook is not an only rumor, because during the latest developer conference blockchain was one of the main themes. Besides that, Mark Zuckerberg is planning to reorganize the experience of his network, with some updates that will ensure the users with more privacy, and, of course, there will be more ways to improve the online business. With more secure privacy, there will be more secure payments, and that will bring more companies to cooperate with Facebook. Also, there will be a better connection with Instagram and WhatsApp, new tools for e-commerce, and contribution stickers.

It seems like Facebook is planning to build a new marketplace that will connect buyers and sellers via WhatsApp pay, which is currently active in India. Some reports say that the new crypto coin will be a part of Facebook`s ads system. The system will work in a way that will allow sellers to pay om coins for their ads, and for the users to get coins as a reward for seeing the same. The main idea is to earn more users and make them use the app more frequently.

source:coincodex.com

The experts are skeptical about this idea because they are not sure about the idea to actually pay the users for seeing ads. They don`t believe that would work. Also, the business users would have to be motivated to keep their Facecoins, and not to sell them immediately every month. People from Facebook are saying that they are just following the trend of blockchain technology, and trying to find the best way to induce it into their social network. So, with this innovation and with upgrading the privacy for users, Facebook will remain on the top where it is currently.

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