Technology

Facebook to introduce cryptocurrency for whatsapp

Although the focus will be the Indian market, the cryptocurrency will be a special crypto coin, “stable coin” which has its value as the U.S. dollar.

In a short while, Facebook will be introducing a new cryptocurrency that will enable Whatsapp users to send and receive money, Bloomberg reports.

Although the focus will be the Indian market, the cryptocurrency will be a special crypto coin, “stable coin” which has its value as the U.S. dollar.

According to the report, Stablecoin is so chosen because it is able to protect users from volatility, a problem Bitcoin and other cryptocurrencies have been having.

Bloomberg reports that Facebook’s statement reveals that it is “exploring ways to leverage the power of  blockchain technology” which had the head of Facebook’s Messenger, David Marcus, explaining in May this year, “I’m setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch.”

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