Facebook Is Seriously Involved In The Plan Of Releasing A Cryptocurrency To Use As Part Of A Payment System

[EthanLian]

More and more people and organizations are choosing cryptocurrency as a new form of technology. However, cryptocurrencies get broad adoption. Presently, businesses are now seeking the need of the acceptance of cryptocurrencies on their platforms for the goods and service they provide.

One of the popular social networking websites, Facebook has established a team to leverage Blockchain technology. According to a report from Cheddar’s Alex Heath, Facebook is exploring the creation of its own cryptocurrency which would enable its billions of users around the world to make electronic payments.

Hence, there is no much detail available, but the firm specifically said on focusing the use of cryptocurrency for facilitating payments on the platform.

Similar to other companies like Ultimez Technology and Square, Facebook is also exploring ways to leverage the power of blockchain technology. Both Ultimez technology and Square are the companies offering their Web solution and Payment services respectively by accepting cryptocurrencies as a payment method.

However, Facebook will likely take years to materialize their work on Blockchain technology and cryptocurrency.

[piazza]

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