Facebook is creating its own crypto currency for money transfers on WhatsApp

The first signs appeared in May 2018, when everything showed signs of the possibility that Facebook would create its own crypto currency. With which transactions can be made within its various networks and platforms.

Now, according to Bloomberg’s information, a new piece of news about this plan comes to light. Which would have WhatsApp as the main platform for the use of the novel cryptomone.

Facebook creates its own digital currency

It is said that Facebook is still working hard on this project, in fact, it would be a stablecoin. That it would be linked to a US dollar fund in order to guarantee its security and that it would be resistant to the volatility of bitcoins and the rest of the crypto currencies that exist today.

It is also known in this respect that more than a cryptomoneda, one would be talking about a digital currency. Also, it is rumored that it would be launched in the beginning in one of the Asian giants, India. This is in order to facilitate the process for workers working abroad who wish to send money to their relatives in their country of origin.

It is a very useful idea, as several associations had previously proposed it to them, but through the use of bitcoins. But this meant facing very high commissions for international transfers. This project would be a good way to increase the financial well-being of families and strengthen the good economy.

Main uses of cryptomoneda

It is mentioned that WhatsApp has more than 200 million sailors in India alone. In this country alone, in 2017, remittances for the enormous amount of $69 billion were received. Against this backdrop, Facebook’s goal is undoubtedly to penetrate a market that has great potential and that would generate very good dividends.

Another novelty about this visionary project, is that the already known David Marcus, joined the team that runs this plan in January. And he was appointed head of the newly created Blockchain division of Mark Zuckerberg’s company. David Marcus has been at the forefront of the PayPal virtual payment platform for years.

However, this project is said to be at a very early stage of development. And that they are only just beginning to establish the specific objectives they seek to achieve. Also, how would be the operation of this technology integrated into our daily lives and the use of SSR.

The most important point at this time for this innovative cryptomoneda project is to solve the issue of security and protection of assets in order to sustain the value of your currency. Which is why we must wait a little longer for it to become a reality.

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