Launching of Facebook coin in 2019

Published : 05/03/2019
Categories : News

Launching of Facebook coin in 2019

Facebook plans to introduce its own digital currency in 2019! That is what The New York Times announced on 28, February 2019. While the social networks giant is still very discreet about its project, the fact remains that the creation of a Facebook coin of the stablecoin type is indeed to envisage…

What is a stablecoin?

It is a cryptoactive whose value is not subject to significant fluctuations similar to those normally experienced by cryptocurrencies due to their particular volatility.

Since the stablecoin is indexed to a fiduciary currency, its value is not liable to undergo any changes other than those of the foreign exchange market regarding the reference national currency: Dollar, Pound, Yen, etc.

Project genesis and objectives

Like other products such as Signal or Telegram, Messenger, WhatsApp and Instagram applications will be modernised to make digital wallets available to their users, making it easier to send money to their contacts.

The initiative for such a project originates from the French David Marcus, former President of PayPal Mobile and current vice-president of Facebook in charge of messaging services.

As part of the design of its digital token with a stable value, Facebook is studying different ways in which the blockchain could be used, so as not to have to rely on a single central player such as Visa or PayPal.

Let us remember that this new blockchain technology constitutes a register allowing the record keeping of financial transactions through files shared on several computers.

Share this content

Ledger Nano S - The secure hardware wallet