Facebook is planning to launch its own cryptocurrency, which will allow users to send money to the contacts on their messaging systems. Facebook employees have reportedly told the exchanges that they are hoping to roll out the coin in the first half of the year.
The company is also working on a major overhaul of its messaging infrastructure, which would connect Messenger, WhatsApp, and Instagram. The integration is expected to extend the reach of its token to the 2.7 billion people who use one of these three apps each month.
WHEN WILL THE COIN BE RELEASED
Facebook employees have told the exchanges that they are hoping to get a product out in the first half of the year. The coins from the other messaging companies are likely to look more like traditional cryptocurrencies, with fluctuating values and a decentralised design that would give users more control.
HOW WILL IT WORK
The companies all declined to comment on their coin projects. Most of them appear to be working on digital coins that could exist on a decentralized network of computers, independent to some degree of the companies that created them.