FBCoin – Facebook to launch its very own cryptocurrency by Q3 2019
May 11, 2019 6:03 am,
With rumors on FBCoin, the Cryptocurrency market is taking the world by storm. There is absolutely no doubt about that. Ever since its inception in the name of Bitcoin in 2009, the concept has received huge acceptance from the crowd. The world has seen the launch of many more altcoins since then. Ethereum coin is the most mentionable one among them. The blockchain technology used by the cryptocurrency ensures that every transaction is verified and that no one has an upper hand in the system. Bitcoin mining has also been a topic of interest in a large group of programmers across the globe. The growth spurt of exchange sites for cryptocurrency can also be attributed to the same factor.
Facebook to launch its cryptocurrency FBCoin
Facebook can be considered as the pioneer of social media networking even though there were a lot more platforms before it. Ever since its launch, people were introduced to a whole new world to connect with others. When it comes to social media and the internet, the worth is determined by the value people to give to the entity and also the trust they have in it. Looking from this aspect, Facebook has immense value and trust among the users. This is the reason they are planning to launch their very own stable coin ( FBCoin ) by the end of the third quarter of the financial year. They have made huge moves in favor of the proposal and have also paired up with Paypal for a successful launch. We had earlier reported about the possibility of Facebook may soon bring its own cryptocurrency. With U-turn on policy update on Facebook Cryptocurrency Ads, it seems very evident that the rumors might actually be true.
Facebook started hiring an inordinate blockchain team, among which included David Marcus, who was the former president of PayPal. With its headquarters in San Jose, California, PayPal is an online money transfer platform. All these moves made by Facebook make it clear that they have no room for mistakes. They have been working on this project for more than a year, looking for the perfect time to launch the coin. They are focusing more on Asian markets; Facebook is planning to launch it very soon this year. But the whole thing has been kept a secret by the organizations, not giving a clear idea as to what they are planning to launch. Sources say that it might most probably be stable coin dubbed FB coin with an investment amount over One Billion USD. The firm has also acquired the Libra trademark for their cryptocurrency.
Bitcoin can be understood as the most successful of the cryptocurrencies ever launched. It helped the digital realm get more attention, and this led to the launch of more and more altcoins, which has ultimately led to the increased trust and value of the digital currency. This has paved a great path for Facebook to launch Its very own cryptocurrency FBCoin. This will increase the buying and selling over the Facebook manifold since it has one of its own.