Facebook is planning to have their own cryptocurrency
Cryptocurrency mass adoption globally is overwhelming. Note that cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. A typical example is Bitcoin.
Mark Zuckerberg has seen the future in digital currencies and decided to take a bold step ahead of time to integrate one into its social media use.
Facebook is planning to have their own cryptocurrency out and ready to use by July 2019. He is already talking to exchanges about listing their cryptocurrency.
It is said to be a stable coin for it’s WhatsApp messaging service. (Yes, Facebook owns WhatsApp).
Facebook also plans to integrate the cryptocurrency across its Messenger and Instagram messaging services.
Right now, the Facebook blockchain team already consists of 50 engineers and are looking to fill another 20 positions.
Furthering on mainstream adoption, audit and consultancy firm PriceWaterhouseCoopers (PwC) is testing its own blockchain platform.
PwC plans to use the blockchain platform to issue, store and share digital certificates for employees’ professional qualifications.
The use blockchain because they want something that mitigates exposure to fraud. Blockchain’s decentralized and tamper-proof architecture does that.
PwC can also use it to screen candidate qualifications when hiring, when issuing certificates for regulators and institutions, and act as an alternative to paper credentials which are susceptible to loss and damage.