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.

1 of 44 comments (clear)

Min score:

Reason:

Sort:

Absolutely not by ilsaloving · 2018-12-21 04:53 · Score: 4, Funny

Are they serious? After everything they've done?
Below is a list of things I would trust sooner than I would trust Facebook to be anywhere near anything as sensitive as a financial transaction:
-Tap water from Flint
-A rattlesnake with a "pet me" sign
-free drinks from Bill Cosby
-gas station sushi
-emails from Nigerian Princes
-A bigfoot sighting