Facebook Reportedly Planning Their Own Cryptocurrency

Bitcoin might be the most popular cryptocurrency at the moment, but it is definitely not the only one. There are plenty of different cryptocurrencies out there and now it looks like Facebook plans on launching their own. This is according to a report from Cheddar who claims that they have heard from sources regarding Facebook’s plans.

The report claims that Facebook had started to study blockchain about a year ago. This seems to line up with an earlier report that claims that Facebook had set up its own blockchain division, which now seems to be leading towards Facebook’s plans to launch their own cryptocurrency in the future.

In a statement made to Cheddar regarding their report, a Facebook spokesperson was quoted as saying, “Like many other companies Facebook is exploring ways to leverage the power of blockchain technology. This new small team will be exploring many different applications. We don’t have anything further to share.”

That being said, Facebook did not seem to rule out the possibility of cryptocurrencies being part of their future. Speaking at a conference earlier this year, Facebook’s VP of Messenger David Marcus said, “Payments using crypto right now is just very expensive, super slow, so the various communities running the different blockchains and the different assets need to fix all the issues, and then when we get there someday, maybe we’ll do something.”

Tyler Lee
Categories: General, Rumors
Tags: cryptocurrency, Facebook