Facebook Seeks Partners to Back Its Crypto Payments System: Report

Facebook Seeks Partners to Back Its Crypto Payments System: Report
фото показано с : ethereumworldnews.com

2019-5-3 10:11

Mark Zuckerberg keeps working on his idea regarding Facebook’s crypto payment service despite the privacy issues it has had in the past

A report by The Wall Street Journal (WSJ) reveals that Facebook is striving to find partners to support Zuckerberg’s idea of integrating a crypto payment system. As well as for introducing a fiat-backed coin into the social networking giant.

Facebook has been discussing these ideas with VC companies and e-commerce platforms to find $1 bln for backing the new stablecoin.

Project Libra requires large investments

Nearly a month ago, Nathaniel Popper, the contributor of the New York Times, published a tweet, saying that Zuckerberg and his team are in talks with VC companies in search of funding Facebook’s crypto project.

Update on Facebook’s cryptocurrency: Sources tell me that Facebook is now looking to get VC firms to invest in the Facebook cryptocurrency project we reported on earlier this year. I hear they are targeting big sums — as much as $1b.— Nathaniel Popper (@nathanielpopper) April 8, 2019

The WSJ now writes that this project has been dubbed Project Libra. Among the giants taking part in the discussions are Mastercard and Visa.

How ‘Facebook Coin’ is planned to be used

Apart from that, Facebook is having negotiations with online merchants, apparently, wishing to attract them both as investors and partners. Apparently, the so-called Facebook Coin would likely not only be used for remittance through WhatsApp but also for buying goods online. One of the ways Facebook could get online merchants keen is cancelling transaction fees for payments made to their apps.

Blockchain Capital has estimated that the current crypto community consists of 100 mln users. Facebook’s user-base exceeds 1 bln people. Should the social media behemoth launch its stablecoin, the crypto community would get a major boost increasing to billions of users.

The WSJ report says that Facebook plans to reward its users with fractions of the new coin for watching ads and providing engaging content, similar to what Brave browser is doing with its BAT coin.

‘Russian Facebook’ VK.com’s token already launched

Earlier, Ethereum World News reported that the Russian rival of Facebook, the social media site VKontakte (VK) has already launched its own token.

However, as per reports, the ‘VK Coin’ is used mostly internally – for incentivizing content makers, for letting users purchase sticker packs, emojis and virtual gifts which can be sent to other users within the platform.

The post Facebook Seeks Partners to Back Its Crypto Payments System: Report appeared first on Ethereum World News.

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facebook crypto report seeks partners system payments

Источник: ethereumworldnews.com

facebook crypto → Результатов: 126


Watch: Facebook’s Crypto Chief Suffers Brutal Senate Backlash

The US Senate Committee on Banking, Housing, and Urban Affairs held a hearing on Facebook’s Libra project this morning, with Facebook crypto chief David Marcus in the hot seat. After a lengthy introduction by Idaho Senator Mike Crapo in which he called Facebook’s aims “commendable,” the committee discussed the potential ramifications of Facebook banking services.

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Fed Chairman Swears ‘Very High’ Scrutiny Against Facebook’s Crypto Libra

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2019-6-27 15:21


Fed Chairman Swears 'Very High' Scrutiny Against Facebook's Crypto Libra

Federal Reserve Chairman Jerome Powell said his agency – as well as the rest of the federal government – will be looking carefully at Facebook’s Libra cryptocurrency. The Unspoken Advantage of Large Companies Entering Crypto He promised that Facebook would be held to very “high” standards, implying that the social media giant should be able […] The post Fed Chairman Swears 'Very High' Scrutiny Against Facebook's Crypto Libra appeared first on CCN Markets

2019-6-28 15:21


Facebook Crypto Advertisement Campaigns Brought Under Siege by Dutch Billionaire John De Mol

Facebook is on the cusp of battling yet another lawsuit filed against its name. It is nearly one year ago when the social media giant decided to close down the crypto advertising ban. In a press release published by Facebook Business on 26th June 2018 and authored by Facebook’s product director Rob Leathern, states that, […] The post Facebook Crypto Advertisement Campaigns Brought Under Siege by Dutch Billionaire John De Mol appeared first on ZyCrypto.

2019-6-7 19:46


Facebook’s Crypto Shopping Spree Isn’t Over Yet. Here’s Who Else They Might Acquire.

Facebook’s crypto ambitions are reportedly not limited to its acquisition of blockchain startup Chainspace, according to The Information. Facebook Has Met with at Least Three More Crypto Startups Citing unnamed sources, the publication said Facebook has been eyeing several blockchain startups with a view of making acquisitions.

2019-2-7 23:40


Facebook разрешил рекламу Coinbase

Крупнейшая в мире социальная сеть Facebook добавила американскую компанию Coinbase в список одобренных рекламодателей. Facebook banned ads for crypto earlier this year. Proud to say we’ve now been whitelisted and are back introducing more people to an open financial system 👌 pic.

2018-7-21 19:44


Facebook Restores Coinbase Crypto Ads, No Intent to Block Legitimate Companies

The CEO of Coinbase has just announced that the platform has just been approved to display ads on the largest social media platform in the world, Facebook. Facebook Repeals Ban On Crypto-Related Advertisements As the market began to run last year, so did cryptocurrency ad sightings, with dozens, if not hundreds of cryptocurrency companies promoting.

2018-7-21 14:39


Фото:

Facebook Reshuffle Structure To Further Compliment Blockchain Research

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