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Will Facebook launch its own cryptocurrency?

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According to the BBC, the world’s largest social network Facebook in the first quarter of 2020 will present its own cryptocurrency. The journalists does not provide links to its sources, but claims that the new payment network will be launched in several countries at once.

Also, according to BBC journalists, Facebook will reveal the details of the project in the summer of 2019. There is information that Mark Zuckerberg consulted on digital currencies with Bank of England CEO Mark Carney and the US Treasury, as well as several money services, including Western Union.

Recall that in the late spring of 2018, the company formed a working group to study blockchain technologies. The head of the group was David Marcus, who previously worked at PayPal. The Wall Street Journal reported that the cryptocurrency project was named Project Libra.

Genesis mining
Genesis mining

The company was registered in Switzerland, and its profile involves the development of infrastructure and software related to investment activities, blockchain and other technologies.

At the moment, some media say that Facebook has already begun negotiations on the placement of its currency on the US stock exchanges Gemini and Coinbase. The company also negotiated with Visa, Mastercard to attract $ 1 billion of investments, in order to protect the currency from sharp fluctuations.

According to one of the sources, the social network was also looking for potential partners among retailers, in particular those who would be willing to accept as a payment cryptocurrency from Facebook.

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