Facebook is trying to overcome the big number of scandals in which it was involved lately with good and positive news. The latest one is about Facebook’s plans of launching its own virtual coin this year. Using virtual coins people will be able to transfer money easier to other users. Facebook is not the only one having this plan – some other big private messenger companies will launch their own crypto currency too –Telegram and Signal.
Facebook is working to a secret project. The plan is to implement a virtual coin for WhatsApp through which people will be able to quickly send money to friends or family. It seems that the project is in its final stages since managers of the company have been discussing with many crypto currencies exchange offices the possibility of selling the Facebook coin to their clients.
This project is not just an experiment. There is a specific target that has proved to be interested in other types of payment than the traditional ones. For example, in China, many people use some non-traditional payment systems as the messenger system WeChat. The digital wallet Venmo is also very popular in the US.
As like the Bitcoin, these new virtual coins will ease the money transfer between countries, and will help especially the people with no bank account. These companies have many fans and could apply a small tax to transactions, but for them could be a good money source.
It seems that the coin made by Facebook will be somehow different from the Bitcoin because its value will be fix and not variable as the Bitcoin because of the fluctuations between supply and demand. The other private messenger companies will have a virtual coin witg variable value. Telegram wants to launch its coin somwhere in the next months and will call the coin „Gram”. Facebook is planning on launching its crypto currency in the first half of the year.