New Delhi: Facebook is working hard to launch its own bitcoin for cryptocurrency based transactions on its platform . Facebook has 2.38 billion users. According to a report published in The Wall Street Journal, Facebook is recruiting dozens of financial companies and online merchants for this. Cryptocurrency based systems will be used as digital coins like bitcoin.
In the Wall Street Journal report,
Facebook has only said that it is exploring various solutions for virtual currency technology. Facebook is recruiting dozens of financial companies and online merchants to introduce the network. Facebook will use digital coin like this system ie bitcoin but it will be slightly different. Facebook’s goal will be to keep its value stable. The Wall Street Journal report said this
Facebook has said that it is finding ways to harness the power of blockchain technology. In a February interview to Harvard law professor Jonathan Jrittain, Facebook’s Chief Executive Officer (CEO) Mark Zuckerberg said he was interested in getting Facebook to enter blockchain technology.
According to him, blockchain can make users more empowered to use thirdparty apps. Facebook has promoted one of its senior engineers, Ivan Cheng, as director of engineering in its recently launched blockchain department.
Zuckerberg told Jrittain, ‘I am thinking of decentralized or blockchain authenticity. Although I have not figured out how to do it, but it is like certified and basically getting your information and various services.