According to the news media outlet Cheddar, the largest social network in the world Facebook, is reportedly exploring the potential creation of its own cryptocurrency.
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Cheddar’s anonymous sources come from people “familiar with Facebook’s plans”. According to them, the social media giant is “very serious” about plans to launch its own virtual coin.
At the same time, the platform announced that David Marcus, head of the Messenger app, would transfer to heading a dedicated blockchain research group. The executive previously worked in the finance sphere for companies like PayPal, after which he joined Coinbase’s board in December 2017.
This move could mean a lot for Facebook. Even though the platform banned all cryptocurrency-related advertising across its network this year, this seems like something that goes in its favor and would put the start to something entirely new. The ban, on the other hand, labels advertising cryptocurrencies as something that is “misleading or deceptive” and was later on copied by both Google and Twitter.
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