Facebook is going to launch its own cryptocurrency

Source: Redmondpie.com

Facebook world's biggest and best social network moving into cryptocurrency market facebook already jumped up in virtual reality and instant messaging already underway, it should perhaps come as no surprise that cryptocurrency is the next move for facebook.

Cheddar‘s Alex Heath reported that facebook is planning to launch its very own cryptocurrency.

There isn’t too much information floating around about the move just yet, but the assumption is that Facebook is looking at cryptocurrency as a payment method for use across the Facebook platform i.e in Facebook Messenger, Whatsapp and other facebook owned applications given the sheer number of people involved and the existing user base covering a thriving marketplace within Facebook, that would be quite the undertaking.

The report claims that the move towards cryptocurrency is being led by David Marcus, the same man who was recently reported as being the head of a new division within Facebook that will focus on, you guessed it, blockchain technology. Marcus’ brief is to “explore how to best leverage Blockchain across Facebook, starting from scratch.” Facebook is keeping its cards close to its chest right now, although it did release a short statement to The Verge in which it covered the bases without actually saying anything new.