Ripple (XRP) Being under Bear Control – Price Analysis Litecoin Price Analysis: LTC/USD Nosedived Below $150 Stellar (XLM) Price Analysis: Bearish Pullback Opportunity in Sight! It appears Facebook is planning to compete with Ripple in cross-border payment.
The social media giant is researching on creating its cryptocurrency which will give its billions of users around the word opportunities to achieve hassle free cross-border transaction and settlements. Ripple and other cryptocurrencies who are working assiduously to get the world seamless cross-border remittance options may receive a life-threatening competition from Facebook anytime soon.
A Facebook official who pleaded anonymity disclosed to Cheddar that “They are very serious about it.” Another Facebook executive said Facebook will possibly need to make “acquisitions in the blockchain and cryptocurrency space to develop its own virtual currency”. The journey into blockchain started early this year when Zuckerberg, CEO at Facebook announced that it recognised cryptocurrency, which takes “power from centralized systems and put it back into people’s hands.” However, he intends looking into the “risk of (cryptocurrency) being harder to control.” “I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.” Then to the recent announcement by David Marcus, head of Messenger, an ex PayPal president and Coinbase board member, who has been working for Facebook for four years.
Marcus is now in charge of everything blockchain in the firm. He’s to set up a group of who will explore blockchain opportunities across Facebook.
“After nearly four unbelievably rewarding years leading Messenger, I have decided it was time for me to take on a new challenge. I’m setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch,” Marcus said in a Facebook post. Read more from ethereumworldnews.com…
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