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Facebook has announced that it is developing its own cryptocurrency designed for use within the popular WhatsApp messaging application, confirming the rumors that Facebook was developing its own token.
According to Bloomberg, Facebook is launching a stablecoin to be used with WhatsApp, focusing primarily on remittances in India. Remittances are money sent home by those living outside their country of origin, and the remittance market is becoming the center of a series of cryptic efforts, particularly the remittance market surrounding the Asian continent, which alone It is a $ 256 billion market, and is often referred to as a perfect opportunity for a crypto use case.
Facebook to develop their own cryptocurrency (a stablecoin) for their own WhatsApp messenger.
The app is very popular in India, over 200 million users. The focus is on the remittance market in India, an estimate of $ 69 billion has been sent home! 🐂🐂🐂 $ crypto $ BTC $ eth #bitcoin
– Brian (Crypto) (@shoelessbrian) 21 December 2018
Reportedly, the currency is very different from the launch, but the idea that Facebook would have made a game of crypto was made for months, with rumors circulating around the technology giant after assumptions related to the blockchain and the creation of apparent task force crypto. Just yesterday Gavin Brown, professor of technology and cryptocurrency at the Metropolitan University of Manchester spoke with Express and expressed his belief that "Facecoin" could represent a serious competition to consolidate cryptocurrencies like Bitcoin, with Facebook continuing to accumulate subsidiary technology companies and build a solid market to implement new technologies.
If Facebook launches the stablecoin that according to what is said by building, it will quickly become the most used product in crypto.
WhatsApp has over 200,000,000 users only in India.
The Indian government has also fought cryptography, so things are about to become very, very interesting …
– Pomp 🌪 (@APPLANT) 21 December 2018
p> The cryptocurrency of Facebook is not close to launch, and the specifications have not yet been released, but with the amount of hype on a cryptocurrency that has not yet been developed, it is likely that this will not be the last of the projects of encryption of Facebook.
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