Emaar Community Token: Owners of Burj Khalifa Plan ICO

Emaar Community TokenEmaar Community Token

At nearly 3,000 ft tall, the Burj Khalifa is the tallest building in the world. Soon, it may also be the first with its own cryptocurrency. Emaar Group, the real estate firm in charge of the world-famous building, wants to develop its own crypto token dubbed the Emaar community token.

Let’s check this out.

Emaar Community Token

Emaar Group is one of the largest real estate developers in the United Arab Emirates. Earlier today, the group announced plans to develop the Emaar community token. At first, this coin will only be available for its customers and partners by the end of 2019. But the group’s ultimate goal is to launch a full-blown initial coin offering or ICO.

Lykke AG and Ethereum

Emaar is partnering with Switzerland’s Lykke AG—crypto startup company—to build the Emaar community token on the Ethereum blockchain. As such, this new cryptocurrency will comply with the ERC-20 standard protocol.

The Lykke CEO stated that the startup has developed a “cutting-edge technology infrastructure,” ready for mass-market use. It’s assumedly the same technology that will be applied to the Emaar community token.

Loyalty System

According to the press release, Emaar Group will use the tokens as part of their loyalty system and as a reward for people who refer their business onwards.

The aim is for customers to then use these tokens at any of Emaar’s buildings, including malls, entertainment facilities, online shopping venues or other properties. This, of course, includes famous landmarks the Burj Khalifa, the second largest mall in the world (the Dubai Mall), the Dubai Opera, and the Dubai Fountain.

>> 3 Stablecoins Everyone Should Know: The Complete Guide to Stablecoins

According to the group, the purpose of the coin is to “extend the Emaar experience,” and that the Emaar community token “marks a significant leap in our digital transformation journey.

CoinDesk details further: “With the community token, Emaar is targeting a potential user base of 1 billion internet users.”

ICO

The group wants to run its token for a year before it evolves to an ICO. Few details have been released about this ICO as a result, but what is known is that it will only be available to European buyers.

What do you think about the Emaar Community token? Do you think this will take off?

Featured Image: Deposit Photos © Sophie_James

p > a {
text-decoration: none;
color:#000 !important;
}

.crec-ad > p > a:hover {
color:#000 !important;
text-decoration: underline;
}
@media(min-width:1228px){
.crec-image img{
width:191px;
height:100px;
}
}
@media (max-width: 1228px) {
.crec-ad {
width: 50%;
box-sizing:border-box;
}
.crec-image img{
width:100%;
height:158px;
}
.crec-ad:last-child {
width: 50%;
padding-right: 4px;
}

}

@media (max-width: 590px) {
.crec-ad {
width: 100%;
}
.crec-image img{
height:auto;
}
.crec-ad:last-child {
width: 100%;
padding-right: 4px;
}

.crec-header h1 {
padding-left:20px;
}

.crec-container {
padding-left:20px;
padding-right:20px;
}
}
]]>

IBM Hints at Entering the Stablecoin Arena: But When?

IBMIBM

Jesse Lund, head of blockchain solutions at IBM, has just hinted that the tech company has plans to explore stablecoins in an interview with Cheddar yesterday. Lund did not disclose when this venture may debut but said it would be on its World-Wire platform.

IBM and Stablecoins

IBM began its venture with Stellar in late-2017 and finalized most of its plans in mid-2018. Stellar is an open-sourced, decentralized protocol that focuses on transfers between fiat currency and digital currency.

Lund told Cheddar that US banks are “very interested” in using stablecoins to send cross-border to replace the current SWIFT system. The reason banks are interested in stablecoins over other forms of digital currency is that stablecoins are linked 1:1 to fiat currencies making them more ‘stable’.

“We’re really feeling excited that we’re on a roll to build something new and revolutionary that’s really going to change the landscape of cross-border payments,” Lund explained.

IBM feels the market demand for stablecoins has risen, despite the copious amount of similar coins that have flooded the market as of late. Lund hinted that IBM hopes to create an ecosystem of various digital assets, with many different types of digital assets—including stablecoins.

>> RAID Project: Bittrex Cancels RAID IEO Hours Before Launch

Cheddar asked Lund how the company’s alleged stablecoin compared to the one that JPMorgan just released. The IBM exec said that the company’s solution to cross-border transactions would be “somewhere in between.” Lund claims that this new venture would not be a proprietary coin like JPM coin but feels the major US bank is doing what’s best for them. The bank’s stablecoin will only be used with clients of JPMorgan.

IBM feels its stablecoin should be more broadly accessible and World-Wire seeks to do just that. When this project will be released is still up in the air, but the recent interview proves it is just around the corner.

Featured Image: Pixabay

p > a {
text-decoration: none;
color:#000 !important;
}

.crec-ad > p > a:hover {
color:#000 !important;
text-decoration: underline;
}
@media(min-width:1228px){
.crec-image img{
width:191px;
height:100px;
}
}
@media (max-width: 1228px) {
.crec-ad {
width: 50%;
box-sizing:border-box;
}
.crec-image img{
width:100%;
height:158px;
}
.crec-ad:last-child {
width: 50%;
padding-right: 4px;
}

}

@media (max-width: 590px) {
.crec-ad {
width: 100%;
}
.crec-image img{
height:auto;
}
.crec-ad:last-child {
width: 100%;
padding-right: 4px;
}

.crec-header h1 {
padding-left:20px;
}

.crec-container {
padding-left:20px;
padding-right:20px;
}
}
]]>

Jack Dorsey, Bitcoin Evangelist, Speaks About Square in Recent Podcast

Jack DorseyJack Dorsey

Twitter founder Jack Dorsey has earned himself the title of ‘Bitcoin Evangelist’—such is his advocation for digital assets. His support of Bitcoin has been consistent and unwavering.

Dorsey, as a successful businessman, is hard to ignore. His support for the leading cryptocurrency spurs on Bitcoin bulls and those who love a strong voice supporting their views.

Jack Dorsey’s Square

The entrepreneur recently participated in a podcast called “Tales from the Crypt” where he spoke about buying Bitcoin.

Interestingly, he told how he “maximizes the $10,000 Bitcoin purchase limit on Square Cash to acquire the leading cryptocurrency.”

Square is a payments platform with a built-in cash app. This allows its users to send money to others in an instant.

With a merchant payment system embedded, it is also aimed at the everyday worker who has to send invoices, for example.

According to its website:

“We’re empowering the electrician to send invoices, setting up the food truck with a delivery option, helping the clothing boutique pay its employees, and giving the coffee chain capital for a second, third, and fourth location.”

The businessman believes platforms like Square are the future for cryptocurrency.

March has been an interesting month for Bitcoin. The top coin by market cap has been growing, and the entire cryptocurrency market has added $6 billion to its valuation. At the time of writing, Bitcoin is selling for $3,909. However, it nearly breached the $4,000 mark during the week. Bullish calls from Jack Dorsey and other prominent figures are helping to cause a lift.

>> Coinbase Upgrades: Wallet App and OTC Desk Get Improvements

Brian Kelly

Earlier in the week, for example, Brian Kelly, CEO of BKCM, said he believed the “crypto winter” was ending. Since he spoke, Bitcoin price rebounded to over the $3,900 mark. He said further that Bitcoin is showing improvement:

“If you look at the number of addresses that have been created on the Bitcoin network, that’s up about 20 percent from the January lows, it’s apt highs at the levels we saw in the spring of 2018 when Bitcoin was well above $6,000. So fundamentally, you’re starting to see improvement.”

What do you think? Do the sentiments of successful businessmen such as Jack Dorsey encourage you to back crypto?

Featured Image: DepositPhotos © marog-pixcells

p > a {
text-decoration: none;
color:#000 !important;
}

.crec-ad > p > a:hover {
color:#000 !important;
text-decoration: underline;
}
@media(min-width:1228px){
.crec-image img{
width:191px;
height:100px;
}
}
@media (max-width: 1228px) {
.crec-ad {
width: 50%;
box-sizing:border-box;
}
.crec-image img{
width:100%;
height:158px;
}
.crec-ad:last-child {
width: 50%;
padding-right: 4px;
}

}

@media (max-width: 590px) {
.crec-ad {
width: 100%;
}
.crec-image img{
height:auto;
}
.crec-ad:last-child {
width: 100%;
padding-right: 4px;
}

.crec-header h1 {
padding-left:20px;
}

.crec-container {
padding-left:20px;
padding-right:20px;
}
}
]]>

Crypto News: SEC Rules ETH NOT Security; Binance Adds XRP

crypto newscrypto news

The cryptocurrency market is making a comeback this week, after closing out last week in the red. Crypto news was pretty slow last week, but it has picked up a bit today. This morning, CoinCenter released news that the SEC Chairman confirmed that ETH is not ruled as a security by the regulator. In addition to this big news, Binance announced it has added XRP and credit card payment support to its Trust Wallet app.

Let’s get into it!

Jay Clayton Rules ETH a “Non-Security”

When investors began taking notice of digital currencies in mid-2017, the US Securities and Exchange Commission started researching and commenting on the industry too. The SEC’s main purpose is to protect investors, facilitate capital formation, and maintain fair, efficient, and orderly markets. Jay Claton, the SEC’s Commissioner, hasn’t been shy in voicing his view of digital currencies from the start.

The SEC was mostly concerned with Initial Coin Offerings (ICOs) and made definitive decisions on whether coins offered in this fundraising method were subject to SEC rules and considered an official ‘security.’ Now it seems the official consensus of the SEC regarding other digital currencies was released on March 7th, when Clayton addressed US Representative Tedd Budd in a statement.

In the official statement, Clayton confirms that ETH and cryptocurrencies like it aren’t securities under US law. This is a win for the cryptocurrency community, but this news is not completely surprising, considering Clayton has held a similar stance for years.

>> Amy Castor, Crypto Expert, Talks QuadrigaCX at MPWR Summit

Binance Wallet Adds XRP and Credit Card Purchase Support

Another piece of large crypto news released today surrounds Binance, the world’s most popular cryptocurrency exchange by 24-hour trade volume.

Trust Wallet, the official wallet of the crypto exchange, has just added support for credit card purchases and XRP. Last July, Binance acquired Trust Wallet in the company’s first public acquisition. Currently, the Trust Wallet supports BTC, ETH, LTC, XRP, and BCH. Binance’s main wallet also holds support for any ERC20, ERC223, and ERC721 tokens.

Users can now use their credit card on the Trust Wallet app to buy digital currencies. Adding this feature now makes it easier for investors to purchase and use digital currencies.

Featured Image: Pixabay

p > a {
text-decoration: none;
color:#000 !important;
}

.crec-ad > p > a:hover {
color:#000 !important;
text-decoration: underline;
}
@media(min-width:1228px){
.crec-image img{
width:191px;
height:100px;
}
}
@media (max-width: 1228px) {
.crec-ad {
width: 50%;
box-sizing:border-box;
}
.crec-image img{
width:100%;
height:158px;
}
.crec-ad:last-child {
width: 50%;
padding-right: 4px;
}

}

@media (max-width: 590px) {
.crec-ad {
width: 100%;
}
.crec-image img{
height:auto;
}
.crec-ad:last-child {
width: 100%;
padding-right: 4px;
}

.crec-header h1 {
padding-left:20px;
}

.crec-container {
padding-left:20px;
padding-right:20px;
}
}
]]>

Crypto News: OKEx Lists TRON and IBM Adds Two Blockchain Patents

crypto newscrypto news

In today’s edition of crypto news, we’ll cover OKEX’s latest addition to its customer-to-customer platform and IBM’s new blockchain patents. Crypto news has been a bit slow this week, in regards to big announcements but the two we’ll discuss today should give investors some confidence going into the weekend.

OKEx Adds TRON (TRX) to C2C Platform

OKEx, the world’s fourth-largest cryptocurrency exchange by 24-hour trade volume, announced the addition of TRON (TRX) to its Customer-to-Customer platform on Wednesday.

The cryptocurrency exchange has been steadily adding other digital assets to its centralized C2C platform. A few weeks ago, OKEx released crypto news that it had added XRP and BCH. On OKEx’s platform, users are able to place orders with self-selected exchange rates and payment methods. OKEx does not charge any transaction fees on this platform—a big highlight and incentive for crypto investors.

>> OneCoin Leader Arrested in New York: Fraudulent Crypto Project

The fiat listed on the OKEx’s C2C platform includes the British Pound, Chinese Renminbi, Vietnamese Dong, Russian Ruble, and Thai Baht. Now, Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), Tether (USDT), and TRON (TRX) are available on this platform.

IBM Applies for Two New Blockchain Patents

Earlier this week, IBM announced big crypto news regarding its X-Force Red security tool. Despite the criticism it has faced applying the blockchain to enterprise operations, the major tech company continues to move forward in the space.

Earlier this week, IBM placed two new blockchain-based patent applications into the US patent office. According to one of the patent documents, IBM is working on targeting network security using blockchain technology. The other application submitted focuses on database management using the technology.

Currently, IBM is in a race for most blockchain-based patents with Bank of America, which has over 50 as of October 2018.

Featured Image: Pixabay

p > a {
text-decoration: none;
color:#000 !important;
}

.crec-ad > p > a:hover {
color:#000 !important;
text-decoration: underline;
}
@media(min-width:1228px){
.crec-image img{
width:191px;
height:100px;
}
}
@media (max-width: 1228px) {
.crec-ad {
width: 50%;
box-sizing:border-box;
}
.crec-image img{
width:100%;
height:158px;
}
.crec-ad:last-child {
width: 50%;
padding-right: 4px;
}

}

@media (max-width: 590px) {
.crec-ad {
width: 100%;
}
.crec-image img{
height:auto;
}
.crec-ad:last-child {
width: 100%;
padding-right: 4px;
}

.crec-header h1 {
padding-left:20px;
}

.crec-container {
padding-left:20px;
padding-right:20px;
}
}
]]>

OneCoin Leader Arrested in New York: Fraudulent Crypto Project

OneCoinOneCoin

US prosecutors have arrested one leader of the OneCoin project for stealing billions from investors through the alleged pyramid scheme.

Ruja Ignatova and Konstantin Ignatov have been indicted by the State of New York for wire fraud, securities fraud, and money laundering. Ignatov was arrested this week, however, Ignatova remains at large.

The pair defrauded investors out of “billions of dollars” using fake cryptocurrency.

OneCoin

Prosecutors are calling the OneCoin project a pyramid scheme whereby members work on a commissions basis and try to recruit other members to the project. Each of these members, of which there are a purported 3 million worldwide, are required to buy a cryptocurrency package in order to join up for the scheme.

According to CoinDesk“OneCoin claims its tokens are mined by servers operated by the company and that its price growth is organic [however], neither of these are true, the release says.”

According to Attorney Geoffrey Berman, the two defendants promised big returns and minimal risk from their cryptocurrency company that was built on “lies and deceit.”

He furthered:

“They promised big returns and minimal risk, but, as alleged, this business was a pyramid scheme based on smoke and mirrors more than zeroes and ones. Investors were victimized while the defendants got rich.”

>> Fidelity Digital Assets: Taking Its Time Evaluating Ethereum Support

Ignatova reportedly detailed in an email how she had an “exit strategy” from the project and will also face charges in India for the fraudulent scheme. Ignatova remains at large. The third leader of the project, Mark Scott, was arrested last year in Massachusetts.

Crackdown

The OneCoin project was highlighted as fraudulent since 2016. It has been globally recognized as a scam with nations across the globe warning users about it.

Have you fallen victim to a cryptocurrency scam? The market is volatile, and the risks of being scammed are high. What are your thoughts about the OneCoin project?

Featured Image: Deposit Photos © VitalikRadko

p > a {
text-decoration: none;
color:#000 !important;
}

.crec-ad > p > a:hover {
color:#000 !important;
text-decoration: underline;
}
@media(min-width:1228px){
.crec-image img{
width:191px;
height:100px;
}
}
@media (max-width: 1228px) {
.crec-ad {
width: 50%;
box-sizing:border-box;
}
.crec-image img{
width:100%;
height:158px;
}
.crec-ad:last-child {
width: 50%;
padding-right: 4px;
}

}

@media (max-width: 590px) {
.crec-ad {
width: 100%;
}
.crec-image img{
height:auto;
}
.crec-ad:last-child {
width: 100%;
padding-right: 4px;
}

.crec-header h1 {
padding-left:20px;
}

.crec-container {
padding-left:20px;
padding-right:20px;
}
}
]]>

Fidelity Digital Assets: Taking Its Time Evaluating Ethereum Support

Fidelity Digital AssetsFidelity Digital Assets

Earlier in the year, Fidelity Investments launched its arm dedicated to cryptocurrencies. Called Fidelity Digital Assets (FDAS), the branch trades in and takes custody of digital assets. Now, according to FDAS President Tom Jessop, the platform will take its time adding support for Ethereum.

Fidelity Digital Assets

The platform currently has support for Bitcoin and is still evaluating what cryptocurrencies may be added in the future.

Where Ethereum is concerned, the executive has expressed that the company is biding time:

“We’d love to have support [for] ether but you know you have a hard fork coming up and some upgrades, so I think we’re trying to see how those things work out before we make a decision to put them on the platform.”

It’s interesting that Fidelity Digital Assets isn’t leaping to support the second largest coin by market cap. Ethereum is also, arguably, the number one protocol for dApps. It’s more usual to simply follow popularity and market caps.

But Jessop iterated that they are not making support decisions lightly:

“We will probably go in market cap order, that’s where the demand is but it doesn’t mean that we will list every coin […] There may be reasons why we [won’t list] a coin that has nothing to do with quite frankly client [demand].”

>> uBUCK Makes its Debut at Hybrid Summit 2019

Fidelity Digital Assets Evaluation

The digital asset body developed an internal framework aimed at evaluating cryptocurrencies. This framework considers how decentralized a coin is, how much demand there is for the coin and whether there are any “peculiarities” associated with the coin’s protocol. Depending on these metrics, the FDAS may or may not support a coin on its platform.

So while in the past the Fidelity Digital Assets has hinted at adding Ether, it seems the process of doing so won’t be so straight-forward. We will have to wait longer for Fidelity Digital Assets to support Ethereum.

According to CoinMarketCap, Ethereum is selling for $138.66 USD, up 0.19% at the time of writing.

Featured Image: DepositPhotos © Chubakaster

p > a {
text-decoration: none;
color:#000 !important;
}

.crec-ad > p > a:hover {
color:#000 !important;
text-decoration: underline;
}
@media(min-width:1228px){
.crec-image img{
width:191px;
height:100px;
}
}
@media (max-width: 1228px) {
.crec-ad {
width: 50%;
box-sizing:border-box;
}
.crec-image img{
width:100%;
height:158px;
}
.crec-ad:last-child {
width: 50%;
padding-right: 4px;
}

}

@media (max-width: 590px) {
.crec-ad {
width: 100%;
}
.crec-image img{
height:auto;
}
.crec-ad:last-child {
width: 100%;
padding-right: 4px;
}

.crec-header h1 {
padding-left:20px;
}

.crec-container {
padding-left:20px;
padding-right:20px;
}
}
]]>

uBUCK Makes its Debut at Hybrid Summit 2019

uBUCKuBUCK

uBUCK Advisor Jon Malach lights up the stage at Hybrid Summit 2019.

Hong Kong Blockchain Week is underway and on March 7th, Hybrid Summit 2019 made its debut at HKBW. The blockchain-centered educational event held speakers from all over the world, including IOHK Founder and CEO Charles Hoskinson. Among the many presentations made, the uBUCK presentation, in particular, has gained buzz from the event – according to speaker Jon Malach, uBUCK is offering a new and convenient approach to crypto Mastercards and stablecoin wallets.

The Hybrid Summit is an annual event that has been running since 2017. Macau hosted in 2017, Thailand in 2018, and Hong Kong this year. The event is a networking and educational opportunity for investors, enthusiasts, and influencers in fintech and blockchain. Hybrid Summit is a one day event that has a focus on education.

uBUCK at Hybrid Summit 2019

Mr. Malach’s presentation yesterday was centered around stablecoins and the convenience and efficiency of transferring funds to others using digital currency rather than going through the traditional banking system.

During his presentation, Malach explained that uBUCK is a cryptocurrency wallet that has fiat capabilities. Users are able to buy uBUCKs using either Bitcoin (BTC) or Ethereum (ETH), effectively converting and “storing” their cryptocurrency in a stable coin that is tied to the US dollar. Other digital currencies ebb and flow in price fluctuations, but by switching your funds to a stablecoin, a user can mitigate risk much more effectively.

How Does uBUCK Work?

uBUCK users buy a prepaid voucher from the uBUCK mobile app. Not only are ETH and BTC accepted, but regular debit and credit purchases are also accepted in the app. Once a voucher is purchased, users can then load the uBUCK Debit MasterCard with their voucher credit. From there, sending or receiving money is as easy as using PayPal.

uBUCKuBUCK
uBUCK Advisory Board Member Jon Malach presented at the conference (March 7, 2019).

The physical uBUCK black elite MasterCard can be used anywhere MasterCard is accepted, and cash can even be taken out from the card at any ATM.

Aside from those banked that want to spend their digital currency, Malach highlighted that the 1.7 billion adults around the world could use the uBUCK Mastercard and digital currency wallet. Two-thirds of the global unbanked population have access to mobile phones, opening the door to mobile banking services for them. uBUCK could aid this population of people by allowing them to send money to friends or family anywhere in the world with pure convenience.

Interested in finding out more about uBUCK? Click here.

p > a {
text-decoration: none;
color:#000 !important;
}

.crec-ad > p > a:hover {
color:#000 !important;
text-decoration: underline;
}
@media(min-width:1228px){
.crec-image img{
width:191px;
height:100px;
}
}
@media (max-width: 1228px) {
.crec-ad {
width: 50%;
box-sizing:border-box;
}
.crec-image img{
width:100%;
height:158px;
}
.crec-ad:last-child {
width: 50%;
padding-right: 4px;
}

}

@media (max-width: 590px) {
.crec-ad {
width: 100%;
}
.crec-image img{
height:auto;
}
.crec-ad:last-child {
width: 100%;
padding-right: 4px;
}

.crec-header h1 {
padding-left:20px;
}

.crec-container {
padding-left:20px;
padding-right:20px;
}
}
]]>

Crypto News: Huobi Adds XRP and IBM Releases X-Force Red

crypto newscrypto news

Crypto news has been fairly slow this week, minus a few major announcements. Huobi Global just announced support for XRP. Another piece of news that should excite investors is IBM releasing its new X-Force Red.

Huobi Adds XRP to OTC Trading Desk

Yesterday, Huobi released word that XRP would launch on its OTC platform today, making this the biggest piece of crypto news circulating today. The XRP Huboi launch was set at 10:00 (GMT-8). Huobi is currently the ninth-largest cryptocurrency exchange by its 24-hour exchange volume.

XRP now joins Bitcoin, Ethereum, EOS, Tether, and Huobi Token, among the coins supported on the OTC trading platform. This platform offers an exchange bridge between digital currencies and fiat currencies.

OTC trade desks have become extremely popular as of late. Many crypto news sites have been heavily following the OTC movement, and it seems Huobi is trying to compete with the other major exchanges such as Binance and Bittrex.

>> Kraken Futures Trading Nears $1 Billion in First Month

OTC trade desks facilitate direct transactions between two parties, unlike exchange trading where buy and sell orders are matched through an order-book.

IBM X-Force Red Security Tool

Another exciting piece of crypto news currently circulating involves IBM’s latest push in blockchain. The X-Force name gives off a ‘space’ vibe, but it has people’s attention, which may have been the goal. IBM Security’s X-Force Red is the firm’s dedicated security task force.

Yesterday, the task force released the X-Force Red Blockchain testing service, aimed at tackling inefficiencies in enterprise blockchain deployments. This service will focus on specifics like hyper ledgers, public key infrastructure, and chain code.

This new piece of crypto news is great for enterprise blockchain, which has received recent criticism. IBM firmly believes in the value of using the blockchain in business, and the company is seeing real efficiencies and cost savings from its use. Despite the criticism, IBM continues to push forward with its enterprise blockchain solutions. If successful, the company could push its developing technology to the front of all enterprise blockchain solutions on the market.

Featured Image: Pixabay

p > a {
text-decoration: none;
color:#000 !important;
}

.crec-ad > p > a:hover {
color:#000 !important;
text-decoration: underline;
}
@media(min-width:1228px){
.crec-image img{
width:191px;
height:100px;
}
}
@media (max-width: 1228px) {
.crec-ad {
width: 50%;
box-sizing:border-box;
}
.crec-image img{
width:100%;
height:158px;
}
.crec-ad:last-child {
width: 50%;
padding-right: 4px;
}

}

@media (max-width: 590px) {
.crec-ad {
width: 100%;
}
.crec-image img{
height:auto;
}
.crec-ad:last-child {
width: 100%;
padding-right: 4px;
}

.crec-header h1 {
padding-left:20px;
}

.crec-container {
padding-left:20px;
padding-right:20px;
}
}
]]>

Facebook Coin Rumors Continue to Circulate: What’s the Truth?

Facebook CoinFacebook Coin

There have been Facebook coin rumors for months in the crypto community and today, the New York Times stirred them up again. According to the New York Times report, Facebook is currently working on its own digital currency to integrate into its messaging services.

Facebook Coin Rumors

A few months ago, Bloomberg released an article about Facebook developing its own stablecoin to be used on its WhatsApp messaging app. This was the start of the rumor mill, although many have discussed in the past the potential of the advertising giant adopting a digital currency.

Just like the story released today by the NYT, all of the sources remain anonymous. Facebook has yet to release any formal information regarding the matter. The times cited multiple anonymous sources who spoke to them directly, stating that the company plans on merging its three wholly-owned apps, Messenger, Instagram, and WhatsApp, into one big canopy. All three of these apps combined have over 2.7 billion active users.

According to the anonymous sources, Facebook plans on using the Facebook coin to power this canopy messaging system. Reportedly, the online advertising company has already hired 50 engineers to develop this digital token. Supposedly, the operation is so under wraps that the team has been given separate key-card access than the other employees in the company.

>> Russia Crypto Adoption: President Putin Orders Crypto Regulations

The most important to note from the New York Times report is that Facebook has already begun shopping the new Facebook Coin around to cryptocurrency exchanges. There were no exchanges named in the article. The project was launched shortly after Telegram closed its $1.7 billion ICO in March of 2018.

I can understand why Facebook would want to keep things under wraps about this potential Facebook coin considering the legal issues it’s run into in the past and also due to threat from competitors. However, I wouldn’t believe anonymous sources and instead, just wait for an official report to be released by the company.

Featured Image: Pixabay

p > a {
text-decoration: none;
color:#000 !important;
}

.crec-ad > p > a:hover {
color:#000 !important;
text-decoration: underline;
}
@media(min-width:1228px){
.crec-image img{
width:191px;
height:100px;
}
}
@media (max-width: 1228px) {
.crec-ad {
width: 50%;
box-sizing:border-box;
}
.crec-image img{
width:100%;
height:158px;
}
.crec-ad:last-child {
width: 50%;
padding-right: 4px;
}

}

@media (max-width: 590px) {
.crec-ad {
width: 100%;
}
.crec-image img{
height:auto;
}
.crec-ad:last-child {
width: 100%;
padding-right: 4px;
}

.crec-header h1 {
padding-left:20px;
}

.crec-container {
padding-left:20px;
padding-right:20px;
}
}
]]>