Facebook Will Have Its Own Cryptocurrency This Year

Facebook Will Have Its Own Cryptocurrency This Year

A New York Times story titled “Facebook and Telegram Are Hoping to Succeed Where Bitcoin Failed,” is suggesting that the California-based company will launch its cryptocurrency in the first half of 2019.

 According to the New York Times, Facebook is developing a new cryptocurrency that will introduce mainstream consumers to digital assets, including its 1.52 billion daily active users. 

The article also says that Facebook has already maintained talks with cryptocurrency exchanges about selling the Facebook coin to consumers
Facebook’s interest in digital assets is not new, as the company based on Menlo Park has been hiring crypto talent in the past months with more than 50 Facebook employees working on its Blockchain project.

Also, Bloomberg reported back in December that Facebook was working on a stable coin for WhatsApp transfers and remittances. By February 2018, WhatsApp had half a billion people as users base.

The market is taking the Facebook initiative with a grain of salt as they do believe that there is anything else than a centralized, stable coin. The only change with Facebook is its weight while pushing its own project and agenda.

However, if Facebook succeeds in putting part of its users base into cryptocurrencies, they will also be comfortable using digital wallets. Finally, it will be good for a market with real decentralized assets like Ethereum or Bitcoin.

It is all about adaptation! As the New York Times said, Facebook is “hoping to succeed where Bitcoin failed.”

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