Facebook Plans To Create Its Own Cryptocurrency: Report (cheddar.com)

Facebook is "very serious" about launching its own cryptocurrency, news outlet Cheddar reported Friday. It's not the first time the idea of a Facebook coin has been floated, but it seems more apparent now in wake of Facebook's reshuffled executive structure and newly formed blockchain group. From the report: Facebook started studying blockchain almost a year ago, when a member of its corporate development team, Morgan Beller, began looking at how the social platform could use the emerging technology. At the time, Beller was the only Facebook employee devoted to studying blockchain, the digital and decentralized ledger that underpins cryptocurrencies like Bitcoin and Ethereum. Her work was thrust into the spotlight this week when Facebook announced that the vice president in charge of the Messenger app, David Marcus, would lead a new team to "explore how to best leverage blockchain across Facebook, starting from scratch."

Comments

There's something wrong with a species

[rsilvergun]

who exerts this much effort and energy (literally, it's a ton of electricity) for yet another made up currency (and one mostly used to purchase illegal drugs because heaven forbid somebody smoke a little pot and not go to jail). It's not like Crypto currencies even fix the problems with fiat currencies. They're even easier for central bodies to manipulate to the detriment of the working class. Heck, by all accounts there's 4 guys out of China playing the price of Bitcoin like a fiddle. And that's before the likes of Goldman Sach's (who are a defacto arm of the US Government) step in.