An informed source says Facebook is having talks with a US financial regulator,the Commodity Futures Trading Commission,about whether the company's prospective digital currency would fall under the CFTC's supervision.What is more,Facebook has reportedly been floating its idea before the the US Department of the Treasury,several ecommerce firms and the Bank of England.Indeed,last month Facebook is believed to have started a subsidiary in Switzerland that deals with blockchain technology,global payments,investing and data analytics.*
The Wall Street Journal believes that Facebook's digital currency project may entail operating a global payments network.The currency,thought to be called GlobalCoin,could be activated in 2020 in up to 12 countries.More details are expected over the summer months.*
The code name for Facebook's plan is rumoured to be "Project Libra."You may be able in future to pay with GlobalCoin on leading ecommerce sites.GlobalCoin could be used as a reward for people who view Facebook ads or otherwise interact with Facebook content,such as by shopping on Facebook advertisers' websites.It may also be possible to transfer money with GlobalCoin on Facebook's WhatsApp platform.
The big plus for using GlobalCoin would be the absence of fees for doing so.Very significant is the fact that GlobalCoin would be tied to a leading currency for stability.*
The CFTC is at this point in an early stage of talks with Facebook,but is keenly interested in hearing what the giant firm has to say.*
Facebook Inc (FB)
Showing posts with label WhatsApp. Show all posts
Showing posts with label WhatsApp. Show all posts
Monday, June 3, 2019
Monday, March 11, 2019
Facebook Secretly Explores Cryptocurrency Business
Until now, Facebook's Cryptocurrency venture was a closely held matter,yet news about the project has been leaking out for a few weeks.Leading the drive is the former president of PayPal, David Marcus.Facebook has also been hiring a number of staffers from the Chainspace start-up.There are more than fifty engineers engaged in the effort.*
The significance of the project,known as "Facebook Coin",is that Facebook could develop a potentially lucrative new revenue stream outside its beleaguered advertising mainstay.Facebook Coin would be tied to the company's WhatsApp messenger service.The Cryptocurrency would also be pegged to standard currencies for stability.Facebook Coin would be a global payments channel used through WhatsApp.*
At least initially,FB Coin would be a single purpose currency for micropayments and person-to-person money transfers.Later,it could evolve to such services as consumer lending.
FB Coin would allow users to send money to contacts on messenger systems across international borders.The FB Coin could be sent to friends and family instantly.
Facebook has had talks with Cryptocurrency exchanges who might sell the FB Coin to consumers.That means hundreds of millions of users could have immediate access to the Facebook digital wallet.
Unlike Bitcoin, there would be no mining process involved in FB Coin.You would not have to worry about the value of a FB Coin, since it is backed by Facebook bank accounts holding a basket of international currencies.*
Facebook is in the midst of interconnecting its apps Messenger, WhatsApp and Instagram.This would enable Facebook to provide Facebook Coin to its 2.7 billion regular users.*
Facebook stock has risen 2 percent today on an upgrade to Buy from Neutral by Instinet.So far this year, Facebook shares have gained 32 percent; while the S&P 500 has gained 10 percent
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Facebook,Inc (FB)
The significance of the project,known as "Facebook Coin",is that Facebook could develop a potentially lucrative new revenue stream outside its beleaguered advertising mainstay.Facebook Coin would be tied to the company's WhatsApp messenger service.The Cryptocurrency would also be pegged to standard currencies for stability.Facebook Coin would be a global payments channel used through WhatsApp.*
At least initially,FB Coin would be a single purpose currency for micropayments and person-to-person money transfers.Later,it could evolve to such services as consumer lending.
FB Coin would allow users to send money to contacts on messenger systems across international borders.The FB Coin could be sent to friends and family instantly.
Facebook has had talks with Cryptocurrency exchanges who might sell the FB Coin to consumers.That means hundreds of millions of users could have immediate access to the Facebook digital wallet.
Unlike Bitcoin, there would be no mining process involved in FB Coin.You would not have to worry about the value of a FB Coin, since it is backed by Facebook bank accounts holding a basket of international currencies.*
Facebook is in the midst of interconnecting its apps Messenger, WhatsApp and Instagram.This would enable Facebook to provide Facebook Coin to its 2.7 billion regular users.*
Facebook stock has risen 2 percent today on an upgrade to Buy from Neutral by Instinet.So far this year, Facebook shares have gained 32 percent; while the S&P 500 has gained 10 percent
*
Facebook,Inc (FB)
Tuesday, February 25, 2014
Facebook and WhatsApp-what's up with that
Facebook is acquiring mobile messaging service WhatsApp for 19 billion dollars.It is a cross-platform mobile messaging app which allows you to exchange messages without having to pay for it.It works with Android,iPhone,BlackBerry,Windows Phone and Nokia.It may also be downloaded to your PC via DownloadApper.com.There is a nominal subscription charge of one dollar a year.The Mountain View,California company was founded in 2009 by CEO Jan Koum and Brian Acton.*
CNBC's tech analyst John Fortt commented on the move,saying we're in this interesting land grab period for mobile and social.Facebook CEO Mark Zuckerberg spent 10% of his company for this.That's a lot.It has no revenue raising opportunity.Its users are mostly in the emerging markets and are not willing to pay much more.It's gigantic.A couple of bucks a year in some of these countries is a lot of money.
I don't say it's a bad move.It's a move to increase scale,to take out a potential competitor.Facebook and WhatsApp have it cut out for them to scale it and make it succeed financially.There are lots of different ways to look at the strategic value of something like this,and we won't know for a couple of years how good it was.Facebook investors never got to go to WhatsApp and look into it,Fortt pointed out.*
His colleague,CNBC Contributor Jon Steinberg,added that the rules have changed,and you have to take bold moves.WhatsApp is way bigger than Twitter.With this move,Facebook is now diversified.
Everyone in the Valley has been talking about this company for months.Everybody wanted to buy this company.Shareholders should bear in mind that Zuckerberg made a good move that was an expensive move,but they should be glad they have a CEO willing to take bold action in a rapidly changing field.*
Facebook might not make much money off the move initially,but that doesn't mean they had a choice if they want to stay in the big leagues of mobile and social media.*
Facebook(FB)
CNBC's tech analyst John Fortt commented on the move,saying we're in this interesting land grab period for mobile and social.Facebook CEO Mark Zuckerberg spent 10% of his company for this.That's a lot.It has no revenue raising opportunity.Its users are mostly in the emerging markets and are not willing to pay much more.It's gigantic.A couple of bucks a year in some of these countries is a lot of money.
I don't say it's a bad move.It's a move to increase scale,to take out a potential competitor.Facebook and WhatsApp have it cut out for them to scale it and make it succeed financially.There are lots of different ways to look at the strategic value of something like this,and we won't know for a couple of years how good it was.Facebook investors never got to go to WhatsApp and look into it,Fortt pointed out.*
His colleague,CNBC Contributor Jon Steinberg,added that the rules have changed,and you have to take bold moves.WhatsApp is way bigger than Twitter.With this move,Facebook is now diversified.
Everyone in the Valley has been talking about this company for months.Everybody wanted to buy this company.Shareholders should bear in mind that Zuckerberg made a good move that was an expensive move,but they should be glad they have a CEO willing to take bold action in a rapidly changing field.*
Facebook might not make much money off the move initially,but that doesn't mean they had a choice if they want to stay in the big leagues of mobile and social media.*
Facebook(FB)
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