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Reports: Facebook to issue its own cryptocurrency

14 May 2018 00:00, UTC   |   3254
Reports: Facebook to issue its own cryptocurrency

“They’re very serious” - told the journalist from Cheddar on Friday last week about the plans of Facebook to launch its own cryptocurrency. This reporter has cited the unspecified source familiar with the plans of the vast social network. The source, in turn, tells that this hypothetical token could potentially be used by all Facebook audience.

Furthermore, if this information is correct, one of the new high-ranking managers of Facebook David Marcus will oversee the process. His new position has indeed been confirmed as the leader of blockchain-related R&D within the walls of the company, so if Facebook wanted to create its own altcoin, he wouldn’t have been left out of the decision-making process.

One should note that these messages have not been confirmed and can be false. The company has not rejected them at the press time but noted that it was indeed interested in possible blockchain applications. The blockchain platform of the new cryptocurrency also remains unknown.

Interestingly, David Marcus has also been seen having ties with Coinbase, one of the most prominent American cryptocurrency exchange platforms. The press also calls him one of the earliest Bitcoin investors. He has already worked on Facebook Messenger in the past, as one of the older Bitnewstoday’s materials notes.

Image courtesy of James Bareham / The Verge

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