Facebook's Cryptocurrency: Great Idea, WrongCompany [Forbes]
Meta Platforms, Inc. - Class A (FB)
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Source: Forbes
Facebook's Cryptocurrency: Great Idea, Wrong Company Getty All the signs are that Facebook is about to launch its cryptocurrency June 18 we will all be using Strategically, the movement makes sense for Facebook: at a time when many question the its dominance of social networks and when a majority of its own shareholders see the back of Mark Zuckerberg innumerable cryptocurrency projects of dubious legality speculative wasteful in terms of energy this maybe the perfect moment to create a universal currency for the Internet era Technically, the project is not terribly interesting: although the company has hired a lot of talent with experience in the world of cryptocurrencies, what it has built is a stablecoin a basket of currencies, securities and organizations cede control of its cryptocurrency to an external independent foundation based in Switzerland Facebook’s currency can be transferred at no cost through Facebook products, including Messenger and WhatsApp, and the company is worki
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