Facebook is secretly planning to develop there own crypto currency called “Facebook coin”.
Facebook coin would provide the social network platform a “lifeline” if investment stop flowing in.
This new facebook coin is forecasted to bring in additional revenue of 19 billion dollars to the social media giant by 2021.
CNBC reported on 11th March 2019 that this is what Barclays internet unless it roasted left it in a note to his client.
Sadler said that if the digital coin that Facebook is reported to play developing is successfully implemented it would result to add at least three billion US dollars in revenue.
Barclays said that these revenue estimates are best of Google Play, which is Google’s digital distribution service and Andriod’s official after that general 6 dollars in net revenue per user.
Facebook is developing its own digital coin to use on its WhatsApp messenger platform. the said currency would allow use us to make direct transactions and will be tied to the value of the fait currency.
The facebook is also criticized which received from consumers, politicians, and advertiser over its business models, which includes the collection of data from 50 million Facebook users without their permission by the British political consulting firm Cambridge Analytica.
despite the continuous increase in facebook earning and the 30% rally of its share price.
“Merely estimating this revenue stream start to change the story for facebook share in our view” sadler said, adding that the digital coin is “sorely needed at this stage of the company narrative.”
Sadler would go on to say that “Any attempt to build a given you stream outside of advertising,specially those that doesn’t abuse user privacy and likely to be well received by Facebook shareholders.”
“Facebook coin” might function as a single purpose coin for micro payment and person to person money transfers in its first version, adding that this is very similar to Facebook credit in 2010.
Facebook credit report to the social network platforms early attempt on Virtual coins, which did not leave to profit you to interchange costs.
The size of Facebook digital coin project, which notable has farmer Paypal president David Marcus as the blockchain and cryptic currency leader, and it’s t
the challenges that Facebook would faith with a little coin in clewiston need to demonstrate to users that it would be above what is available today in payment trust building after the criticism it ficed in 2018 East and regularly scrutiny.
However, Sadler and we believe that it Facebook could pull off the digital coin, the social network platform could also get itself involved in consumer lending, remittance and physical payments.