“Like many other companies, Facebook is exploring ways to leverage the power of blockchain technology. This new small team is exploring many different applications. We don’t have anything further to share,” the company said in a statement.
WhatsApp has over 200 million users in India, and the country also has more remittances than anywhere in the world, with $69 billion sent home last year, as revealed by the World Bank. 2018 has been a big year for stablecoins. There were over 120 related projects this year says Stable.Report, a space that tracks these assets.
Of course, the idea behind a stablecoin is a little different than something like Bitcoin. While Bitcoin is unpredictable, stablecoins provide some of the benefits of cryptocurrency without the volatility. However, creating one is easier said than done. For example, Basis, one of the most promising stablecoins, recently shut down due to complications in adhering to SEC regulations.
A stablecoin powered by a mega-company like Facebook, however, might be poised for greater success.
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source: https://unhashed.com/cryptocurrency-news/facebook-may-create-its-own-stablecoin-according-to-report/
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