Anthony Pompilano founder and partner at Morgan creek digital and the host of a popular crypto based podcast “Off the chain” predicted something for the most used Social media network in this world. According to him, Facebook will launch one of the most famous and most used crypto currency in the market. And according to a latest article in New-York times, this prophecy has turned out to be true !!
According to the New-york times, Facebook is set to launch its first cryptocurrency in the first half of 2019, focused mainly on the Remittance based market i.e. market based on the flow of money through different countries. For eg:- A foreign worker sending money to his family in a distant country.
Bloomberg was the first one to report about the intentions of Facebook to join the crypto market, while the recent article of New-york times showed that they are pretty much serious about it. While it is also reportedly said that facebook is going to launch a feature on Whatsapp that will enable the user to send and recieve the crypto-money to their family and friends.
Ever since, Mark zuckeberg mentioned about his keen interest in this feild, some new hirings and expansion of their teams have seen in some days. Rumours have been floating that it has not been only restictred to US dollar fiat currency, but also to several other fiat currencies as well. It has also been reported that the company has been working with the exchanges in these days.
The launch of a cryptocurrency, based on the branding of the most famous Social media network, not only marks a great milestone in this field, but this also seems to be a test of credibility for the Facebook team, after the Data breaching case. The company has a huge user and fan base, which makes a great weight of responsibility on their shoulders which they’ll have to carry out sincerely!!