Facebook: Preparing to Launch a Cryptocurrency for WhatsApp

The digital giant would like to launch its own cryptocurrency by July 2019. A team of 40 people would be busy creating this cryptocurrency for members of the social network.

It’s an open secret that has been circulating for many months. The question is no longer whether Facebook will one day launch its cryptocurrency, but rather when the giant will.

It seems that they are preparing a cryptocurrency that could be offered to members of WhatsApp, who may soon be able to send via the application virtual coins to their friends or family members. This product would first be offered to the Indian market to which more than 69 billion dollars pass each year.

Therefore, Mark Zuckeberg insisted during the presentation of his results 2018, on January 30, on the importance of payment via courier as a strategic axis of the development of its courier services. Facebook had started this project in May 2018. The company had then founded a blockchain research group also headed by the former boss of Messenger and Paypal, David Marcus. He is known in the world of digital payments: he was chairman of PayPal between 2012 and 2014 and had a seat on the Board of Directors of Coinbase, one of the largest trading platforms in the world of cryptocurrency, between December 2017 and August 2018.

In addition to that, there is a rumor that Telegram and Signal would also work on creating their own cryptocurrency. However, the risk for the three companies is to face the same obstacles that could block the way of other cryptocurrency like Bitcoin.

Since launching its work on the blockchain, Facebook has also sent several of its members to attend conferences about cryptocurrencies. Surely, the goal seems to be to recruit subject specialists, including academics.

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