Facebook, the latest news on cryptocurrency plans

Facebook, the latest news on cryptocurrency plans. The Wall Street Journal launches new hypotheses about Zuckerberg's coin projects.

Facebook, the latest news on cryptocurrency plans - fb

A few hours ago Wall Street Journal has published some new details on crypto-value plans di Facebook. According to the American newspaper, the company is still looking for dozens of commercial and financial partners in an attempt to immediately extend the scope of its blockchain. Mark Zuckerberg's company is asking all potential partners to invest in an investment fund, worth $ 1 billion or more, which would serve to support Facebook's currency and allow it to make its prices more stable. Indeed, it appears evident that one of the main defects of cryptocurrencies is precisely that of being subject to speculative fluctuations capable of making these assets unsuitable for the use of payments for goods and services.

Zuckerberg's words

Although the word "was not spoken at the recent developer conference"blockchain" Zuckerberg however, he also wanted to talk about "money", stating that he believed "that sending money to someone should be as easy as sending a photo", alluding to "simple and secure payments”As a fundamental characteristic of his vision of privacy-forward.

The protagonist of this new Facebook ecosystem seems to be Whatsapp, with the instant messaging app that could become the centerpiece of the innovations of the Facebook galaxy. The initial reference is certainly a Whatsapp Pay, currently being tested in India, which is expected to expand to other countries (not yet known which ones) by the end of the year. The platform does not use blockchain, at least for now, and is designed for peer-to-peer payments. But with 80% of small Indian businesses using WhatsApp to market their goods, some form of payment processing seems to be a completely natural evolution.

In short, India seems to be the ideal audience for experimenting with new cryptocurrency projects, and Bloomberg says he is convinced that the first phase of testing will be right here.

Cryptocurrencies and advertising

Another novelty of the Wall Street Journal dossier is the possibility that Facebook's currency could be integrated into the company's profitable advertising ecosystem. Zuckerberg.

It is therefore easy to think of the fact that merchants could use crypto-coins to pay for ads, and that users can be rewarded in coins for displaying or interacting with them.

Expert opinion

The newspaper then intercepted some experts asking their opinions on Facebook's next moves in this area. "I don't think they do anything that isn't serving the increase in interactions on their platforms," ​​he says Joshua Gans, a professor at the University of Toronto, who then notes that sending money to companies poses a challenge. Gans then declares skeptical that Facebook would pay users to view ads - an immensely difficult system to create - unless it is something like a "discount" for buying a product through a Facebook advertisement. On the commercial side, encouraging companies to pay for Facebook ads and services with money could be a way to disconnect the flow of money from your system.