Facebook is running hard to launch its own bitcoin for cryptocurrency-based payments on a Facebook platform that has 2.38 billion users.
According to a brand new report, on Friday in the wall street journal,
The social media giant is “recruiting dozens of financial firms and online merchants” towards this goal.
The Cryptocurrency-based system may use a digital coin comparable to bitcoin.
Recently Facebook has said that it is exploring ways to leverage the capability of blockchain tech.
In interview with Harvard Law Professor Jonathan Zittrain,
The CEO of Facebook said that He was “Potentially interested” in bringing the facebook login on the blockchain tech.
The CEO of Facebook Mark Zuckerberg told to Jonathan Zittrain,
“I’m thinking about going back to decentralized or Blockchain authentication. Although I haven’t figured out a way to make this workout this is around authentication and basically granting access to your information and to different services,”
According to Mark Zuckerberg, Blockchain technology may give Facebook users more powers when granting data access to third-party apps.
Last year Facebook promoted one of its senior engineers Evan Cheng as the director of Engineering at its brand new launched blockchain technology.
Messenger Chief David Marcus headed that, Facebook has set up a group within the company to explore Blockchain tech and its potential use for the platform.