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!

Author:
Get the latest selection of cases
Leave your e-mail and we will send a selection right now.
Send message...
Featured Articles
VR Porn for affiliates 101   Some time ago we’ve published an article about adult games, today we are going to discuss one more very adult-related topic: VR porn and how affiliates can make money on it. So what is VR? It’s virtual reality, artificial world created by some design and projected through a special headset. There are quite a few options of headsets: ones made by HTC, Oculus, even your smartphone can become a w...
Google cracks down on predatory loan apps Google has reportedly barred certain payday loan apps from the Play Store in an effort to protect people from deceptive and exploitative personal-loan terms, as Google’s spokesman said to The Wall Street Journal. The ban applies to apps that offer personal loans with an Annual Percentage Rate (APR) of 36% or higher. The search giant also doesn’t allow apps that require full repayment within 60...
Taboola and Outbrain to Merge to Topple Facebook and Google In a press release published on October 3, two native advertising powerhouses Taboola and Outbrain announced their intention to merge.   Taboola and Outbrain were founded by Israelis in 2007 and 2006, respectively. Today, the audience of the two companies taken together accounts for about 2 billion users per month.   Don’t expect to see names like Taboolabrain or Outtab in the near future. T...
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.

Subscribe to our newsletter

Send message...