Facebook is developing cryptocurrency

[Graybeard]

Read story: Report: Facebook is developing its own cryptocurrency

What is the working name 'facecoin', 'coinbook'?

QUOTE >>>
Facebook could allow users to use the virtual currency to make payments. The technology could support more secure transactions, which will be important as Facebook's various platforms become more transactional. The plan to develop its own cryptocurrency is one of several efforts by Facebook to improve security and privacy on the platform, after the social network has faced increased pressure from lawmakers, users and advertisers responding to the Cambridge Analytica scandal, where the data of nearly 80 million users was misused. <<<END QUOTE

 

[azgold]

The plan to develop its own cryptocurrency is one of several efforts by Facebook to improve security and privacy on the platform

Really? That's why? Uh-huh.

Oh, man that sounded cynical!

Last I heard, the US government doesn't like virtual currency but I don't keep up with all things crypto, so perhaps that has changed, or I've heard incorrectly.

I found this part interesting....

View attachment 12441​

Soooo, they're doing this to make things more secure, eh? I shouldn't say that, you may beat them at their own game.

I do understand that blockchain is still in its infancy and is being developed to a higher potential, honest. Just right now, we're talking about two platforms that I don't have a lot of faith in, from a privacy and trust standpoint.

 

[PrideOfElites]

I won't be shocked to see if it gets revealed later that Facebook has been using our computers and smartphones to mine crypto.