Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Report Says (bloomberg.com)

Posted by msmash on Friday December 21, 2018 @03:20AM from the shape-of-things-to-come dept.

Facebook is working on making a cryptocurrency that will let users transfer money on its WhatsApp messaging app, focusing first on the remittances market in India, Bloomberg reports. From the report: The company is developing a stablecoin -- a type of digital currency pegged to the U.S. dollar -- to minimize volatility, said the people, who asked not to be identified discussing internal plans. Facebook is far from releasing the coin, because it's still working on the strategy, including a plan for custody assets, or regular currencies that would be held to protect the value of the stablecoin, the people said.

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Big pile of Nope on that one by SuperKendall · 2018-12-21 03:51 · Score: 1, Insightful

No way am I buying into BitBook or FaceChain or whatever they call it.
It also brings to mind a very serious question - do they intend to mine their currency using the browsers and apps of people on Facebook?

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"There is more worth loving than we have strength to love." - Brian Jay Stanley