Cryptocurrencies! that’s a popular keyword that everyone has heard of or Bitcoin in particular. While Bitcoins are trending at a whopping $10,000. Many users don’t understand the whole cryptocurrency thing all together and how it works. You can however learn more about crypotocurrencies with the blockchain conference set to be held in Kampala soon. Facebook is also joining the bandwagon to make things easy to understand as it teased to launch its own Crypto network.
Last Week, news broke that Facebook had formed a blockchain division. According to Wired, the social media giant is focused on making its cryptocurrency real soon. Double tapping into a broad cryptocurrency space. Facebook’s idea to outcompete Bitcoin may take it more years than it actually plans. Just like the former was very unpopular and purely green to the current miners in 2009. It’s to date that everyone knows about Bitcoin, ignoring the journey it has maneuvered to make it to the top. However, with Facebook’s Cryptocurrency, the talk may be a little different.
Facebook’s finished blockchain product is expected to look more like Ethereum which is a decentralized computing platform powered by blockchain that digital currencies like Bitcoin run on. But the question is, why is Facebook tapping into the crypto space?
Rumor has it that the social media giant wants to make payments easy on its platform. While you need an electronic card to conveniently pay for any services at the moment. Facebook’s cryptocurrency may spark down to all ordinary services as well. Therefore, don’t be surprised to see your favorite supermarket or electronic machine like Payway accepting Facebook’s coin as a form of payment. Otherwise, the social media giant is set to roll out a cryptocurrency that will absolutely make life easy.
