Is Facebook Building Cryptocurrency?

According to Business Insider, Facebook is trying to build a cryptocurrency that “would power money transfers on WhatsApp”. The Silicon Valley tech giant has reportedly been trying to build a “stablecoin” equivalent to the value of the dollar. Earlier in 2018, amid widespread bitcoin and crypto hype, Facebook had announced it was launching a blockchain group. News Outlet Cheddar has reported that the Facebook employees had discussed “the idea of creating a decentralized digital currency for the social network’s 2 billion users.”

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