Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say

[wuvdoll]

I doubt this is true. Facebook wouldn’t do such a thing, they don’t need cryptocurrency cause they wouldn’t consider it safe for their platforms users.

People can already send and receive money with Facebook, there is a feature to send and receive money in the Messenger app. If they want they will do the same for WhatsApp, but it won’t be anything to do with cryptocurrencies, these medias are fond of carrying fake news.

I may need to agree with you as OP is not providing any link for source/reference. But, why not a new thing for whatsapp users beyond the features of facebook.

Mark Zuckerberg  must have been well aware of cryptos as his 'old friends' Winklevoss twins are icons in crypto world. It is time for facebook corp to react as googlepay and applepay are emerging, hence to stay competitive,  they may go for this kind of things.

But, what are impacts it is going to create in crypto space or in bitcoin ecosystem. Nothing negatively, I am sure. Why ? It will be another altcoins but it may get quickly adopted by common people due to the popularity of facebook/whatsapp. But, it may not have value outside whatsapp or at least out side facebook's products. People still need bitcoins.

Moreover I believe, a new crypto from any market giant will help bitcoin to be promoted indirectly as bitcoin is not a purpose specific money whereas all altcoins are.  

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[BrewMaster]

just another case of the widespread hype of cryptocurrencies that is infecting everyone from small time newbie investors to big corporations worth billions of dollars. everyone looks at the numbers that showed up in 2017 and look at market cap,... and they all want a piece of the action.
being open source and under MIT license has made it easy for these big corporations to take advantage of other people's work for their own purposes.
for at least another 10 years we will continue seeing a lot of crap coins be created every day until eventually the market purges itself and we are left with only a handful of useful cryptocurrencies.

[bayu7adi]

if cryptocurrency can make Facebook better, I think it will restore the condition of this broken Facebook stock
with the implementation of cryptocurrency and blockchain, it can make the WhatsApp, Facebook and Messenger systems even more powerful and of course there will be more and more enthusiasts from the Crypto community to promote Facebook as we all promote cryptocurrency

[badungs]

In my opinion. perhaps this policy is to boost the value of Facebook shares which continue to decline in the trading market due to data leaks that have occurred. so that Facebook starts a new innovation in the crypto world so that the value of shares will increase again and gain the value of trust from the public. in my opinion, this is a good innovation so that it will further develop the crypto world.

[o_e_l_e_o]

there will be more and more enthusiasts from the Crypto community to promote Facebook as we all promote cryptocurrency

Enthusiasts from the crypto community, as you put it, should be all about privacy, security and anonymity, which are pretty much the antithesis of everything Facebook stands for. Facebook collects all kind of information about you, including leaving tracking cookies which let them know which websites you visit and what you do online outside of Facebook. They even collect data about people that aren't signed in or even signed up to Facebook. This data is obviously sold to advertisers and whatnot, but is also sold to much more shady companies like Cambridge Analytica. No one who is an enthusiast of crypto should be an enthusiast of Facebook.

I can't believe anyone registered here believes projects like this are in any way comparable. Just like centralbankcoin, they'll make the case for real crypto even more compelling.

Exactly. These coins would be crypto only in name. Unfortunately, I have no doubt idiots will flock to these centralized scams in hope of making a quick buck as and when they are launched, as has happened many times before.

[shinharu10282016]

Is it me or is anyone interested why it only stated India? We all know many people use WhatsApp, but why only focus on one country? Not jealous but curious enough to ask this question. How is this going to change how we view Facebook and Messaging apps?

[jjjfff]

This kind of application doesn't even require a blockchain.

Facebook's "currency" could be stored in a centralized database, since FB itself is centralized.

You can only use FB and Whatsapp from within their proprietary apps (no API like Telegram), so their currency can simply be another feature added to the app, without blockchain at all.

[o_e_l_e_o]

This kind of application doesn't even require a blockchain.

You are right, of course, but if they don't use the words "blockchain" or "cryptocurrency" in their new product somewhere, how else will they convince idiots to throw their money at it? All you have to do is add blockchain in your product name somewhere, and your product will surge in value, even if it actually has nothing to do with blockchain.

[cizatext]

Well the news may be a fake news because Facebook has come out earlier this to Launce an attack on the entire cryptocurrency network by way of banning all cryptocurrency related advertisements on the platform and what makes me not to believe this news is also the fact that it does not have a link to the original news or website.

[Escf4]

We can not say that it is a fake news or it is true , that facebook is developing a cryptocurrency for WhatsApp Transfer, if this news is true then it will be a great news , because the crypto currency is expanding their crypto works through this facebook giant.

[jhongzjhong]

We can not say that it is a fake news or it is true , that facebook is developing a cryptocurrency for WhatsApp Transfer, if this news is true then it will be a great news , because the crypto currency is expanding their crypto works through this facebook giant.

Yes, maybe this is true or not but there's a big chance of percent it is not true.

This kind of application doesn't even require a blockchain.

Facebook's "currency" could be stored in a centralized database, since FB itself is centralized.

If you have read this comment above he was right I guess, Facebook is just only an application and it is impossible to be used if somebody knows they are not using blockchain technology for their transactions across borders by sending money then, their product become useless.

But since they are banning crypto using by their ads, impossible that Facebook will be using blockchain at all.

[bitgolden]

"Sources say" is the most key point on this discussion. Who is the source, where did they found out about this. I am sure facebook would do blockchain eventually but a cryptocurrency for whatsapp transfers? I doubt that would happen anytime soon, it is a possibility in 10 years if crypto becomes quite common but until than it looks impossible for now.

The fact that facebook even banned crypto ads for a while shows clearly how they are not a pro-crypto company, maybe they thought about how they could make money exchange easier and crypto came up in the discussion but thats about the extend they would go with it. They already have like facebook points or whatever its called where you put your money on facebook and than spend it on advertisements or game products and so forth which is not crypto but still works for them.

[Capt00]

I don't believe if there is no source at all, waiting to announce the former CEO of the Facebook company. If Mark's have officially announced on that then, there is no reason that I don't believe at all. For now, let's wait and observe our Facebook account having a piece of news regarding crypto but totally I still have doubt that it will never happen.

[AjithBtc]

This news rolled out few days back, and this wasn't confirmed. As whatsapp is much used, Facebook coming up with such a plan isn't a big thing. Providing transaction access along with the communications app makes it more convenient for every users. Already few other apps were performing similar tasks, whatsapp adding its own currency adds value to the entire network.

[wahyu wida]

I don't believe if there is no source at all, waiting to announce the former CEO of the Facebook company. If Mark's have officially announced on that then, there is no reason that I don't believe at all. For now, let's wait and observe our Facebook account having a piece of news regarding crypto but totally I still have doubt that it will never happen.

I hope that this will happen, and at least this is good news, so that it can increase our confidence in cryptocurrency. therefore news like this is what we need to build psychological

[suzanne5223]

The news was ramper online and it will be good if facebook does do their own crypto currency but unfortunately the news seems to be false because there's no genuine link to interview where the facebook CEO does make the statement. Therefore, I believe the news was just one of the news spread in other to make more investors step in.

[sunsilk]

The news was ramper online and it will be good if facebook does do their own crypto currency but unfortunately the news seems to be false because there's no genuine link to interview where the facebook CEO does make the statement. Therefore, I believe the news was just one of the news spread in other to make more investors step in.

They made such currency before with their apps before or games but it didn't clicked and those type of credits didn't last long. There were news about the hiring of blockchain professionals that facebook did.

With the related ban of ICO ads before on the platform, I think its part of the plan but we don't know what's the really the plan of Mark Zuckerberg and his company alone. It can also be a hype naming like what others said, so investors would buy themselves in.

[yusupjatigumilar]

I hope that it will have a positive impact on the crypto currency, and it will not even destroy the crypto currency already, hopefully if the plan is reached, public trust can increase against the crypto currency, another question that is my question is whether the government will support this if later the plan has been realized?

[miningguru]

I don't believe if there is no source at all, waiting to announce the former CEO of the Facebook company. If Mark's have officially announced on that then, there is no reason that I don't believe at all. For now, let's wait and observe our Facebook account having a piece of news regarding crypto but totally I still have doubt that it will never happen.

You are right, maybe the news is spreading which we didn't hear any official news from the major sources. It is a very good sign if they start implementing the cryptocurrency for WhatsApp transfers, it is another good step because if Facebook really starts developing blockchain platform.

[crazycatwoman03]

The news was ramper online and it will be good if facebook does do their own crypto currency but unfortunately the news seems to be false because there's no genuine link to interview where the facebook CEO does make the statement. Therefore, I believe the news was just one of the news spread in other to make more investors step in.

They made such currency before with their apps before or games but it didn't clicked and those type of credits didn't last long. There were news about the hiring of blockchain professionals that facebook did.

With the related ban of ICO ads before on the platform, I think its part of the plan but we don't know what's the really the plan of Mark Zuckerberg and his company alone. It can also be a hype naming like what others said, so investors would buy themselves in.

Facebook founders wants the best thing for their company and their users so it is understandable if they would continue developing. With cryptos booming year by year, considering to integrate it would be an advantage for them in the future.

Facebook had ban crypto and ICOs ads so it really is a surprised for them planning in creating a crypto of their own however, I think it would work more if they will also used bitcoin. Creating another crypto exclusively for them is smart but using bitcoin could be more practical.