The Currency Analytics
By Julie Binoche
It is expected that on Tuesday, Facebook will be revealing the details about its own coin. The social media giant already has the features of pictures, friends, and diary…
It has the endorsements of nearly 12 corporations ranging from Uber, Paypal, Mastercard, Visa, and others.
Cryptocurrency has already earned an image of being from the Wild West. The values keep fluctuating. Terrorists and drug dealers pile it up.
The Facebook currency will likely be different from the previous cryptocurrencies. It will be pegged to several different cryptocurrencies.
Bitcoin was previously sold for a few cents. And, when it touched upon a record high of under $20,000 per coin during December 2017.
The cost of the current Facebook project is expected to cost anywhere from $1bn, and it has been under development for over a year. This will likely enable the 2.
Mark Zuckerberg, the founder of Facebook, met the governor of the Bank of England to talk about his plans, and he further decided to discuss the matter with the treasury officials.
It is expected that Facebook will erase the poor image of cryptocurrencies and will likely make cryptocurrency appear like a worthy idea.
Critics are of the opinion that Facebook has a spoil reputation when it comes to sustaining the privacy of its users.