We’ve always known Facebook has recently been hiring blockchain developers for a while, but what they need them for or what they’re doing remained unknown. A recent post on New York Times says that Facebook plans to launch its own cryptocurrency by mid-year. The report states that Facebook has a lot of ongoing blockchain project, but the one most likely to launch soon is the Stablecoin.
Also stated is that Facebook is already in talks with cryptocurrency exchange platforms to get the currency listed. The currency is expected to be tied to traditional assets like gold or fiat money. Facebook plans to launch a cryptocurrency that has fiat value too. This may not be far from the truth as earlier reports say that Facebook plans to launch a cryptocurrency to allow WhatsApp make payment in app.
Following the acquiring and hiring of the team behind ChainSpace, Facebook told Mashable that they’re exploring ways to leverage blockchain technology. In other news, word has it that messaging apps like Telegram and Signal will also be launching their own Cryptocurrency by next year.