WhatsApp Can Launch Own cryptocurrency In The First Half Of 2019!
WhatsApp should have its own cryptocurrency, slated for release in the first half of 2019. This is what a New York Times report cites sources close to the project.
The goal is to make it easier for the messenger to send and receive money between friends and family.
People involved said the project is already well advanced, but none did want to reveal their identity.
Facebook would already be in talks with currency exchange offices specialized in crypto-coins, already informing that the option can arrive before the middle of the year.
The idea of Facebook is not to effectively create a disruptive currency like bitcoin but only use the technical mechanisms to ensure more security in transactions.
Thus, they reported that the currency should be based on other values, such as the dollar and euro, to help maintain stability.
Facebook would also be using WhatsApp as a testing platform for this service, which could extend the proposal beyond the messenger, putting the integration also in Messenger and Instagram.
The scheme can become a constant of similar programs.
Telegram, the main competitor of the messenger, has raised $ 2 billion last year for the creation of Gram, its own crypto-currency.
The company promises to launch this year. Another service that is planning the same move is Signal with Mobile Coin.
The idea of a cryptocurrency made by Facebook has been commented on since December of last year.
It’s not just Facebook with WhatsApp, but the NY Times also gun that competing apps, like Telegram and Signal, are also developing their own crypto-coins.
The idea is that users of messaging applications can make purchases and send money directly from the app, becoming a closed platform without external interference.
“The most awaited, yet stealthy, project is underway on Facebook. The company is working on a currency that WhatsApp users, which Facebook has, can send to friends and family instantly, “the paper writes.
While the Telegram has 300 million users, that would be a robust trading platform.
WhatsApp walks to 2 billion users and could become one of the largest trading platforms for crypto-coins in the world.
The expectation is that this cryptocurrency will reach the market by the end of 2019.