Re: Facebook is Developing a Cryptocurrency

Quote from: UniversityCoin on January 02, 2019, 08:53:15 AM

Quote from: Hunnykaushal31 on December 22, 2018, 05:53:53 AM

As per recent article on Bloomberg , facebook is developing a cryptocurrency that will allow users to transfer money through their whatsapp messaging app and they are first focusing on market in India. They are developing a stable coin-a type of digital currency pegged to the U.S. dollar as bitcoin have high volatile nature.

This is a good thing that big names are moving into crypto world now.

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This once again proves that cryptocurrencies have great potential for using them in various fields. I am very glad that Facebook made this decision.

I am not that glad, people are enthusiastic because a big name is trying to create a cryptocurrency but I am sure that it will not be that different from fiat and if that is the case why do we need such a coin in the market? They are only going to create even more confusion among investors about what it is a cryptocurrency and why do we need them in the first place.