Commercial enterprise of Facebook cryptocurrency

by Hania ahmed

He is preparing to release the bitcoin version of the messaging program for use on Facebook, WhatsApp, Messenger and Instagram. This could be a long-awaited success, as Facebook is the world’s leading technology company in the lucrative microfinance market. Or not? Against the backdrop of the long-running excitement of Monday-to-Monday changes, is there another bloated “corrupt” business plan by the Center? But doesn’t that pay off in the end? Only time will tell. But I’m proud of my twenty years of research on paid economics.

We know very little about Facebook’s plans, and a new team has been formed to investigate. “Similar many a different companies, Facebook uses blockchain technology. We’re looking for ways to take advantage of this new group, and we have nothing to share,” Bloomberg said in a statement.

The investigative journalism of Bloomberg and the New York Times tells a different story. Paid coins (similar to the “gram” digital currency produced by Telegram), however, will have a fixed value of the paid coin and will vary depending on the total business. Unlike bitcoins, it is not a tool. Guns

What is a fixed price? Bloomberg News Agency according on the clam. The New York Times reports that the dollar, euro and yen will be merged. Facebook seems to be focused on offering technical solutions for the large and lucrative payment market in India. Is Facebook Queen Transaction Anonymous on Bitcoins? Well, they’re connected to a Facebook account, so it’s not an easy way to break the rules.

Although this is an interesting event. But it is an exaggeration to say that there is a common element in the hundreds of corruption and financial schemes announced in the last four years. Of the 103 research projects announced since 2015, blockchain technology applies to all financial services. But so far only a few projects have been silent, and no extraordinary solution has emerged.

Is there anything that shows different results about the Facebook project? China’s parallel payment solution is WeChat Pay, the world’s sizeable mechanised and computer network cost result used by “900 million United States”. Successful Beijing and Shanghai, “a beggar also has a QR code that scans and pays smartphone users.” The alliance with the WeChat messaging system shows that WeChat has played a key role in the widespread implementation of WeChat. Integrating Facebook Coin Facebook services can help you get started quickly, but VChatPay has no currency. Use server technology on traditional digital bank accounts that allow users and other users to transfer money.

According to the New York Times, paid coins (unlike VChatPay) are based on links to traditional cryptocurrencies rather than traditional banking systems. Cryptocurrencies do not seem to insist on control because they are under increasing regulatory pressure because they are not transparent and do not control their activities.

It is also difficult to understand how to use the money paid for payments. The big banks immediately sent dollars from united state to some other, and it’s worth it. Costs and barriers can arise, such as converting money by mail into local currency and distributing it to local bank accounts or cash deposits, and Fescoin technology does not address these issues.

When you set the price tag, there is another question mark. Unlike other non-currency bitcoins, a paid coin needs real financial support to maintain a fixed value. The surest way to stay completely safe: Facebook payments for every 1 coin can create a separate $ 1 account.

You can also hide partially or completely. But who warrantee the safety device of these investments? If the amount is not paid, who is answerable and what is the compensation, fee? Facebook must have a banking license and rely on its banking terms. Ideally, the reserves are in the central bank. However, the central bank is loath to help private currencies.

The sizable ground for skepticism is that Facebook is now trying to deal with user data and privacy issues.