Facebook is reportedly launching its own cryptocurrency this year
History has shown that an empire can extend over a vast area and prosper for a very long time, but at one time or another it always ends up collapsing. Facebook has created a real empire and its plan to avoid collapse is by evolving in the most appropriate way. Now that its services are used by billions of users, it is taking the next step: monetization with a system other than ads. It has been announced for some time, but things are becoming more concrete.
As early as “the end of the first semester”, Facebook could market its cryptocurrency. In other words, with real money, you get virtual money that you can then invest in the WhatsApp universe. Why would you do that? What could users buy on WhatsApp? It’s a mystery, but the idea is not only to buy but also to transfer funds to your friends or family. It is unlikely that Facebook will limit this to its messaging service alone. It could be interesting for Facebook to use it on its social network with its Marketplace service to simplify exchanges.
The exact strategy is still unknown, the main objective is probably to simplify trade from one country to another and to distance itself from US monetary policy, as Capital points out. In any case, it is a fairly logical continuation: the company is looking to diversify and optimize its profits. Public opinion and the media are not always receptive, but the numbers are high.
In addition, other big names in instant messaging are working on a cryptocurrency system. Line, Signal, Telegram…. Bitcoin has shown that there is a market for cryptocurrency, but also that a lot of work needs to be done to make it work properly.