ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Residential demand upbeat despite construction cost, interest rate rise; brokerage picks DLF, Oberoi Realty among top 4 bets
  • Copper Set to Post Worst Quarterly Performance in Over 2 Years
  • Maruti Suzuki Brezza 2022: Launch today! Check key highlights; live streaming link here
  • Nothing Phone 1 confirmed to come with Snapdragon 778G+ SoC on July 12 - Know more
  • Ratnamani Metals bonus share: Stock jumps 15%, hits 52-week high ahead of record date
Read in App
Business News » World News

Facebook may introduce its cryptocurrency in June

Given Facebook`s infamous security management, the blockchain would supposedly be "far more centralised" than Bitcoins and the company would tap outside firms to help run the system. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Facebook may introduce its cryptocurrency in June
Later in May, Facebook started hiring for its cryptocurrency-based payments on its platform that has 2.38 billion users. Image source: Reuters

Facebook may finally launch its long-rumoured cryptocurrency later in June. The cryptocurrency, under Facebook`s "Project Libra", is reportedly aimed at allowing Facebook`s global users to transfer money across borders and to make online purchases.

With its cryptocurrency, the social networking giant is planning to include bonuses for merchants that adopt it. Infact, employees in the project would even have the choice to be paid in the cyber currency, Engadget reported on Wednesday. 

Given Facebook`s infamous security management, the blockchain would supposedly be "far more centralised" than Bitcoins and the company would tap outside firms to help run the system. 

It would charge the third-party firms a licensing fee of $10 million per partner and roll that into backing the currency with traditional money to keep it stable.

In an interview with Harvard Law Professor Jonathan Zittrain in February, Facebook CEO Mark Zuckerberg said he was "potentially interested" in putting the Facebook login on the Blockchain technology.

Later in May, Facebook started hiring for its cryptocurrency-based payments on its platform that has 2.38 billion users.

The social networking giant has also set up a group within the company, headed by Messenger chief David Marcus, to explore Blockchain technology and its potential use for the platform.

Earlier in June, the company ignited a discussion about its crypto Stablecoin initiative with the US Commodity and Futures Trading Commission (CFTC).

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Facebookcryptocurrency
Written By: IANS
Updated: Thu, Jun 06, 2019
05:29 pm
San Francisco, IANS
RELATED NEWS
Facebook testing new ways to organise, quickly access Groups Facebook testing new ways to organise, quickly access Groups
Meta to let you purchase your avatar's outfit through online store Meta to let you purchase your avatar's outfit through online store
Sheryl Sandberg resigns as COO of Facebook parent company Meta; here is what she plans to do next Sheryl Sandberg resigns as COO of Facebook parent company Meta; here is what she plans to do next
Apple's privacy features to cost Facebook $12.8 bn in 2022 Apple's privacy features to cost Facebook $12.8 bn in 2022
Meta to let creators sell virtual items in social VR app Horizon Worlds Meta to let creators sell virtual items in social VR app Horizon Worlds

LATEST NEWS

Eknath Shinde sworn in as 30th Chief Minister of Maharashtra, Fadnavis becomes Deputy CM

Lay-offs rise as stagflation worries mount; Zee Business' research explains impact

Residential demand upbeat despite rise in construction cost, interest rate, says brokerage; picks DLF, Oberoi Realty among top 4 bets

Statiq raises USD 25.7 mn in funding round led by Shell Ventures

Oppo Reno 8 series India launch soon; teaser released - All you need to know

GST Council Meeting: Full details of goods and services, where rates hiked or slashed

Nothing Phone 1 confirmed to come with Snapdragon 778G+ SoC on July 12 - Know more

Copper Set to Post Worst Quarterly Performance in Over 2 Years

Stocks to Buy: Sandeep Jain recommends Tarsons Products for gains; lists fundamentals, top triggers

Toyota India set to unveil Toyota Hyryder tomorrow, Check details here

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV