Facebook recruits dozens of financial experts to launch cryptocurrency

To get its digital coin off the ground, Facebook is recruiting dozens of financial firms and online merchants, according to The Wall Street Journal.

Facebook has been developing the digital coin, which users would be able to send to each other, for more than a year. Beyond sending the cryptocurrency to one and other, Facebook users could use the digital coin to make purchases on the social networking website and across the internet, sources close to the project told WSJ.

There are rumors Facebook may also reward users who click on certain ads with fractions of the digital coin.

Facebook is looking for a $1 billion investment. The social network giant has talked to Visa and Mastercard as well as payment processor First Data.

More articles about health IT:
Study: Genomic profiling can determine the best treatment for colorectal cancer
Facebook's head of health research on the role of social media in healthcare delivery
How AI helped 2 health systems automate case reviews & reduce claim denials

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Top 40 Articles from the Past 6 Months