Facebook is creating a cryptocurrency that will allow users to transfer money to courier services, focusing first on the remittances market in India, according to people and sources close to the world. problem.
The sources, who asked not to be identified, indicated that the company was working on the development of a stable digital currency, supported by the US dollar, for the development of the strategy, including a plan to to keep these assets or ordinary currencies in order to protect the stable value.
Facebook has long been expected to switch to financial services after the appointment of David Marcus, the former president of PayPal, to manage the Messenger application in 2014. In May, Marcus became the head of Blochin initiatives of society, which have not been discussed. In general. Facebook is trying to recruit as many people as possible and now has about 40 people in the group, according to the addresses of LinkedIn employees.
A spokesman for the company said in a statement:
"Many other companies are exploring ways Facebook can leverage the power of cutting-edge technology, the new small team will explore many different applications, and we have no other details that can be shared."
Watsab, the company's encrypted mobile messaging application, is widely used in India, where it represents the largest number of remittances in the world - India sent $ 69 billion to India in 2017
Stable digital currencies
Last year, there was a boom in stable digital currency projects. At one point, there were more than 120 related projects, according to a website monitoring stable currencies. Shy
This idea has been difficult to put into practice in real life with at least one high-profile project in China, where a stable currency project called Basis was recently closed eight months later. The company, based in Hoboken, New Jersey, said that since there was no clear way to classify it as a title rather than a currency, it could significantly reduce the number of potential buyers. The rapid collapse occurred after Base Aid called on known supporters such as Anderson Horowitz and Kevin Warsh, former governor of the US Federal Reserve Fund.
Perhaps the most prominent stable currency to date, Tether, is still surrounded by controversy. United Nations Charter on the Elimination of All Forms of Racial Discrimination
Facebook, which has about 2.5 billion users worldwide, with annual sales of more than $ 40 billion and more experience with regulatory issues, may have a better chance of creating a digital currency stable and stable. It will also be the first major technology company to launch the project. However, Facebook could experience phenomenal growth in the country. India has 480 million Internet users and is the second largest country after China. About Forrester Research Inc., Inc., 737 United States of America