Even last year, information appeared in the media that Facebook had become interested in cryptocurrency and was planning
What do they want
The project is called Project Libra, and the work on ithas been going on for over a year. For its payment network, the company intends to use a stablecoin - a special type of cryptocurrency, the rate of which is pegged to the rate of regular currency. As a result, such a cryptocurrency is less subject to fluctuations.
The stability of cryptocurrencies should be ensured by investments: Facebook plans to raise about $1 billion. The company is already in negotiations with Visa, Mastercard and payment operator First Data.
Why do you need it
Facebook is discussing cooperation with retailersplatforms so that they accept cryptocurrency for purchases. Moreover, sources say that the commission from sellers for using the payment system will be less than the usual 2-3%.
In addition, active users will be rewarded with cryptocurrency. For example, for watching advertisements, making purchases, etc. Simply put, it’s a kind of loyalty program.
When will Facebook be able to launch its own?cryptocurrency and whether it will be launched at all is still unknown. For now, all developments and plans are kept secret. A representative of the Facebook division responsible for blockchain projects declined to comment on this information and only noted that “like many other companies, Facebook is exploring various ways to use the capabilities of blockchain technology.”