According to a report by the New York Times, Facebook is all set to launch its own cryptocurrency in the first half of 2019. The social media giant has even spoken to cryptocurrency exchanges to potentially list its ‘Facebook Coin’. As we had reported, this cryptocurrency is being developed for its popular messaging platform Whatsapp, where it can be used to send and receive payments.
Last year, Bloomberg had reported about a possible
However, an uncertain crypto regulatory environment across the globe will pose a big hurdle to Facebook. The social media giant will also have to build a robust system to ensure that the safety of its billions of users is not compromised. It will also be interesting to see how Facebook tackles the
The report also mentions other messaging platforms like ‘Telegram’ and ‘Signal’ which are developing their own cryptocurrencies. With the entry of prominent institutions such as Facebook, JP Morgan, Microsoft and Samsung, it is only a matter of time before other businesses sit up and take notice. The crypto revolution is well and truly upon us!