Social media company Facebook is preparing to bring crypto currency payments into mainstream. Together with government and private companies and businesses, a special payment system can be developed on the lines of Facebook Bitcoin, with the help of this crypto currency. Facebook can take curtain from the next week’s virtual currency outline and Idea. Also, it is expected that it will be a very stable digital currency compared to BitCoin like BlockChain Technology.
Facebook has told many investors about the crypto currency project and today the information related to the basics of Facebook’s currency will be exposed in the meeting with them. Talking about this currency, it was being called ‘Global Coin’, but at the moment it is being called Libra. According to the Wall Street Journal, it has codenamed Libra for the crypto currency project. According to reports, dozens of companies like Visa, MasterCard, Paypal and Uber are joining this digital currency project of Facebook.
In the Wall Street Journal it has been said that questions on the credibility of the Facebook have led to the loss of the privacy of the Facebook and the news of Fake News arose. Now after investing in the digital currency, the company would like to create confidence in customers and users that their system is safe. For this, the team is working on preparing a digital system in place of many currencies such as dollars and euro. Mark Zuckerberg had earlier said about this company’s project that blockchain technology will improve the users’ experience with third-party apps.
After regulatory authorities have received the green signal for the Facebook project, the company is working fast on it. However, many regulators have expressed concern about the misuse of its culprits and losses to the customers. At the moment, Facebook is taking all kinds of necessary and protective steps to connect the Whatsapp, Instagram, and the global user base on own site with a digital currency. It is believed that after coming to crypto currency, shopping on online merchants and shopping platforms can be possible directly with the help of Facebook crypto currency.