Hello everyone and welcome back to Crypto News! In this quick video we are taking a look at Facebook & WhatsApp Cryptocurrency that is being created. There have been several announcements that Facebook is working to create what is called a stablecoin cryptocurrency.
It is currently unknown if Facebook will be calling this coin or token Stablecoin at this time. However it is very well known in the cryptocurrency community what a “Stablecoin” is such as Tether, USDC, or plenty of other that claim to be a stable currency pegged to the US Dollar or another currency.
But what will Facebook and WhatsApp be using this Cryptocurrency for? What are the benefits and use cases of such a Cryptocurrency on Facebook or WhatsApp?
Well as it turns out there are several use cases that Facebook will be looking to capitalize on. There is no exact route that Facebook is trying to overcome, but as we have seen in the past Mark Z., is very proactive in the developing communities and is looking to accelerate trade in those areas. Providing them a stable currency to conduct trade will be vital to the businesses in that area.
Let me know your thoughts regarding Facebook creating their own Cryptocurrency. I know we would all love them to use one already created, however sometimes the core code may not work as the Facebook Developers may want it to. Also having their own chain will offset the fees that are required to send crypto currently in place. Either way, let me know your thoughts in the comments!
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