Facebook May Announce Their Cryptocurrency This Month
Mike Sanders / 5 years ago
Facebook To Announce Cryptocurrency
If you have been paying attention to the cryptocurrency news over the last 6 months, it’s probably come to your attention more than once that the social media website Facebook was putting significant research into entering the market.
Mark Zuckerberg has himself confirmed that they were researching blockchain technology. It was (and still is), however, unclear as to how far he plans to go. There is speculation though that blockchain may only be the tip of the iceberg as the platform may also planning to release an actual ‘coin’.
In a report via the Verge, however, it seems that one way or another we may be set to learn a whole lot more about it as rumours are circulating that a major announcement surrounding their cryptocurrency plans will be made this month.
Libra Networks
It has been well known that Facebook created an essential ‘shell company’ called Libra Networks. This research team, based in Switzerland, has specifically been conducting the work necessary for the social media platform.
The main source of the leak, however, is based on reports that workers for the company have been given an option to opt into the coin. This, rather than receiving pay for their work. In addition, it has also been suggested that the platform (whatever it may be) would be revealed by the company this month! An announcement that would be much sooner than most anticipated.
What Do We Think?
It’s pretty clear that Mark Zuckerberg is very keen on having some kind of involvement with the cryptocurrency market. The only real point of speculation at this stage seems to be whether it will just be blockchain technology or an actual coin. At this point, who can say?
Even if it is revealed this month (which isn’t guaranteed) it’s still not believed to be ready. A 2020 release date is being floated around, but again, who knows for sure? Any way you look at it though, this is going to be interesting.
What do you think? Would you invest in a Facebook cryptocurrency? Do you think they would be wiser sticking to a blockchain? – Let us know in the comments!
