Facebook's rival, Bitcoin, could be used to fuel a massive online payment system

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We have known for a long time that Facebook has created its own chain of blockchains and several reports have indicated that the company was working on Bitcoin type cryptocurrency that can be used for money transfers via its chat applications, such as than WhatsApp and Messenger. But Facebook's encryption plans could be much bigger than that. According to a new report, the company plans to build a massive online payment system that could rival the one currently in place.

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<p class = "canvas-atom web-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Facebook spoke to" dozens of financial companies and online merchants, " The Wall Street Journal he said, seeking to revive his online payment system based on a type of stable cryptocurrency. "data-reactid =" 24 "> Facebook has spoken to" dozens of financial companies and online merchants ". The Wall Street Journal he explains, looking to launch his online payment system based on a type of stable cryptocurrency.

<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Coins, unlike most digital coins, are attached to the US dollar, which means that they should know no fluctuation in value.We have no official name for Facebook coin, and the company does not have any official name for the coin of Facebook, and the company does not have any official name for is not ready to make any announcement, but the Newspaper refers to the project as to the Balance project. "data-reactid =" 25 "> Unlike most digital coins, the coins are indexed to the US dollar, which means they should not experience any fluctuations in value. no official name for the Facebook piece, and the company is not ready to make announcements, but the Newspaper refers to the project as the Balance project.

Facebook has been in talks with financial institutions such as Visa, Mastercard and the First Data payment processor, which is looking for $ 1 billion worth of investments for the project. The company is currently negotiating with e-commerce companies and applications on the acceptance of the nameless digital currency. These companies could also invest in the Facebook project. Merchants would also benefit from the adoption of the new payment standard by not having to pay the usual fees associated with credit card transactions.

Facebook would have the idea of allocating room fractions to users when they would view advertisements and interact with content on its platforms. Another idea currently under consideration is to allow users to pay for a product with Facebook tokens after clicking on an ad. The retailer could then use these tokens to pay more ads on Facebook.

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