Facebook Cryptocurrency Set for Launch in First Half of 2019
- Facebook will connect its messaging apps with Instagram to extend the reach of its cryptocurrency to over 2.7 billion users.

Facebook may launch its won cryptocurrency as early as the first half of this year – and the social media giant is working with crypto exchanges to be responsible for holding the digital coins. Rocked by the Cambridge Analytica data breach, Facebook believes the existing crypto platforms have a greater experience navigating regulatory issues, and also a better chance of vetting customers.
Per a report by The New York Times, sources familiar with the project revealed that more than 50 engineers are currently working on the new cryptocurrency that will be functional over the company-owned WhatsApp network. It seems like the company has also rapidly expanded its Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term department making many new hires recently.
The report also claims that the Mark Zuckerberg-led company has dedicated a standalone office for the crypto team alongside separate key-card access “so other Facebook employees cannot get in.”
A stablecoin pegged to the dollar, euro, and other currencies
The Times report also cited five people familiar with the project as saying the company is working to connect its encrypted mobile-messaging apps with Instagram to extend the reach of its cryptocurrency to over 2.7 billion global users.
A previous report from Bloomberg claims that the Facebook coin may be initially launched in Asia and that the new cryptocurrency may first see the light in India thanks to its burgeoning population of 1.3 billion people, out of which WhatsApp has a hold on 200 million.
Of note, former PayPal President David Marcus, who moved to Facebook to run its messenger app in 2014, now runs the company's secretive blockchain initiative.
Facebook may launch its won cryptocurrency as early as the first half of this year – and the social media giant is working with crypto exchanges to be responsible for holding the digital coins. Rocked by the Cambridge Analytica data breach, Facebook believes the existing crypto platforms have a greater experience navigating regulatory issues, and also a better chance of vetting customers.
Per a report by The New York Times, sources familiar with the project revealed that more than 50 engineers are currently working on the new cryptocurrency that will be functional over the company-owned WhatsApp network. It seems like the company has also rapidly expanded its Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term department making many new hires recently.
The report also claims that the Mark Zuckerberg-led company has dedicated a standalone office for the crypto team alongside separate key-card access “so other Facebook employees cannot get in.”
A stablecoin pegged to the dollar, euro, and other currencies
The Times report also cited five people familiar with the project as saying the company is working to connect its encrypted mobile-messaging apps with Instagram to extend the reach of its cryptocurrency to over 2.7 billion global users.
A previous report from Bloomberg claims that the Facebook coin may be initially launched in Asia and that the new cryptocurrency may first see the light in India thanks to its burgeoning population of 1.3 billion people, out of which WhatsApp has a hold on 200 million.
Of note, former PayPal President David Marcus, who moved to Facebook to run its messenger app in 2014, now runs the company's secretive blockchain initiative.