Facebook launches a new cryptocurrency for online payments

Facebook is reportedly hiring engineers and making deals with fintech bigwigs to create its own payments platform

That Facebook developers were preparing a payments platform for all its services is common knowledge. Over and over again it has also been rumored of a digital currency branded Facebook, which users could use not only within the blue social platform, but also on WhatsApp and Instagram (within which, meanwhile, was created an e-commerce platform).

And, according to the latest rumors coming from the United States and reported by the Wall Street Journal, the technicians of the social platform would be close to completing the virtual currency that users can exchange with each other on Facebook, WhatsApp and Instagram. In particular, Facebook is preparing to launch its own cryptocurrency that, exploiting the blockchain, will allow to make payments and exchange money safely and without risk of fraud.

Facebook bets on Bitcoin: ready a cryptocurrency

According to the sources of the Wall Street Journal, in recent weeks Facebook would be engaged in a sort of "buying campaign" conducted on several tables. On the one hand, it would be strengthening its team of developers and cryptocurrency experts by hiring new staff; on the other hand, it would be signing contracts with various banks and economic operators - specifically, Visa and Mastercard - to fix the last details of its payments infrastructure.

The digital currency under development would be very similar to Bitcoin, sharing several structural aspects. For example, as mentioned, the blockchain: this technology, in fact, will allow users to pay in peace and security. A measure clearly necessary, since social networks have become a "hunting ground" for hackers, who exploit the bulletin boards and some social engineering strategies to steal personal data and money from Facebook members (and not only).