20 may 2019 0 comments reading time: 5 minutes

Facebook to develop its cryptocurrency


On May 2, Facebook registered a new subsidiary company, Libra Networks. The company will focus on developing its own stablecoin.

Libra Networks will reportedly aim to provide financial products and solutions based on blockchain technology. It is highly likely that a stablecoin developed by Libra Networks will serve as a foundation for a payment service that is currently being built by Facebook.

Stablecoins are cryptocurrencies backed by different foreign currencies and physical goods such as gold and oil. Thus, the stablecoin exchange rate is much more sustainable than that of other cryptocurrencies.

It’s time-consuming and labor-intensive to develop and ramp up a payment blockchain infrastructure of such a scale. Facebook has already put lots of people on the payroll for its new blockchain team. The company has recently hired two former compliance managers from one of the major cryptocurrency exchange firms Coinbase — Mikheil Moucharrafie and Jeff Cartwright. For the first time in many years, Facebook is going to raise third-party investment worth approximately 1 billion dollars.


Libra Networks is a testament that Facebook has serious plans to establish an integrated payment service, while “Facebook coin” will draw attention to cryptocurrencies and therefore to crypto offers.

Let’s monitor the situation closely to be the first to generate money on any update. Stay in touch!


Этот текст скопирован с сайта https://zorbasmedia.com
Author:

Have something to tell about affiliate marketing? Become a ZorbasMedia author!

Featured Articles
19 Things That Facebook Algorithm Loves Facebook's ad algorithm is notoriously unpredictable and not always correct. However, there are some factors that can help you improve Facebook's ad relevancy score and the general rating of your ad account. Of course, not all of these tricks will produce the desired result if you advertise, say, a gambling product, but a lot of them will prove to be useful for warming up your account.
Paxum is processing with caution A couple of days ago people in digital marketing chats started raising questions as to what is going on with Payoneer and Paxum. Сheck out the article to find out more.
Google Discovery Ads Are Now Available Globally About a year ago, Google unveiled its plans for expanding the platform’s ad opportunities and announced that it was going to develop and test out a new ad format called Discovery Ads. Finally, Discovery Ads have emerged from testing and are now available to all advertisers throughout the globe.
Comments
No comments
Leave a comment
Ответ на комментарий: ....
This site uses cookies. By closing this message and continuing to browse the site, you authorize their use.