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Facebook says it plans to develop its very own cryptocurrency. While details are scant, a virtual currency tied into the world's largest social media network would permit its billions of users to make seamless electronic payments. SCROLL DOWN FOR FACEBOOK FINANCIALS BETTING OPTIONS AND MORE ON THE COMPANY'S ENTRY INTO THE CRYPTOCURRENCY SPACE
“They are very serious about it,” said one of the people, who asked not to be identified discussing unannounced plans.
Indeed, Facebook began studying blockchain a little more than a year ago.
“Like many other companies Facebook is exploring ways to leverage the power of blockchain technology," a Facebook spokesperson told Cheddar after this story was first published on Friday. "This new small team will be exploring many different applications. We don’t have anything further to share.”
Facebook’s work on blockchain technology and cryptocurrency will likely take years to materialize and an Initial Coin Offering or ICO commonly held by cryptocurrency startups was highly unlikely.
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Currency in USD - SKYBOOK FUTURES CLOSE OVER/UNDER JUNE 15, 2018 180.31 - price is at time of publication, must be locked it for bet to count - totals based on recent average and betting action trends
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