Facebook going into crypto-currency….using WhatsApp

Tech giant Facebook has been in the news for many reasons – data leaks, product announcements, boardroom tussles…..you name it.

It has been a roller coaster year of some sorts!

Now it appears Mark Zuckerberg and co are taking their innovation to another level by turning attention to financial services.

According to Bloomberg, Facebook is on the verge of creating its own crypto-currency via Whatsapp.

Indeed, the multi billion dollar company is working on developing a money transfer system for its WhatsApp chat app that uses a stablecoin.

Stablecoin is a type of digital currency pegged to the U.S. dollar — to minimize volatility. 

Many analysts say with the boom and success experienced in the use of blockchain technology in 2018, more of initiatives are expected from tech companies next year.

Facebook has 2.5 billion users globally, raking in more than $40 billion annually.