Will people actually use it?
The media giant will likely launch its smaller scale Libra cryptocurrency project as soon as January.
What Exactly Is Facebook Trying to Do With Cryptocurrency Anyway?
sarote pruksachat / Getty Images
He said the most appealing aspect of cryptocurrency is the security and ease of use.
“At its most basic, cryptocurrency is the representation of value on the Internet,” Raczynski explained.
It was only a matter of time before a private company went down the road of their own cryptocurrency.
Digital wallets are encrypted, Raczynski explained, so only the user would have access to it.
Are Facebook Users Ready for Libra?
“Facebook is a lightning rod for controversy,” Raczynski said.
It really is a broadening of what Facebook can do to trace and track habits and data patterns."
What they all have in common is the fact that the platforms own and manage users digital wallets.
Why Is This Important?
This reach could also help people around the world who dont have access to physical banks.
That, however, is on Facebook to prove.
