Mark Zuckerberg studies Cryptocurrencies for Payment Transactions

Nishanth Shetty

Nishanth Shetty

January 5, 2018 6:29 am

Mark Zuckerberg studies Cryptocurrencies for Payment Transactions | Coindelite News
3720 Total Views

Cryptocurrency News

Mark Zuckerberg, Facebook CEO has described his interest in cryptocurrency and its potential uses in his 2018 mission statement, issued on Thursday.

The statement was all about how Zuckerberg is taking on a new personal challenge for 2018 on fixing the Facebook. (Last year’s challenge that he had was to visit all states those he had never been to and meeting new people out there.)

Zuckerberg noted that the cryptocurrencies are only in passing as an example of technology that decentralizes the power. But the concept can also help Facebook catch up to Asian messaging competitors when it comes to mobile payments.

In China, it is very easy to make payments through WeChat Pay and AliPay which is making the cash old. In China, beggers seek mobile payments to their accounts using QR codes instead of seeking spare change.

According to research from finance industry consortium CGAP, Alibaba and WeChat hold an estimated 92% of the market share for mobile wallets in China, which has an estimated 500 million mobile payment users. The rest of the world has some 556 million mobile money accounts.

By reverse, Facebook’s payment features haven’t really launched yet.

By using Facebook payments, users can link their Messenger account to a debit card, and pay friends with a quick message, or make an e-commerce purchase via Messenger and Marketplace on Facebook.

Coinify CEO and co-founder, Mark Hojgaard, says:

“A tech firm helping businesses accept payments via crypto will definitely make sense for Facebook users globally to send some kind of token to each other. This could be currency or something else like points that you can redeem them for things within the Facebook ecosystem, like premium content.”

The Chinese government has already banned ICO‘s and forced the domestic cryptocurrency exchanges to close their shops. So, Facebook could get an early edge on its overseas competitors by moving fast to build a crypto wallet or issue a possible Facebook coin.

No Comments
Reason for Hike in XRP Value Explained!!!

XRP prices seem to have Spiked Lately Ripple is generating notable gains as the huge cryptocurrency market pushed higher. According to Coindelite, the XRP token attained a value of $0.8768. Coindelite figures show that Ripple rose by 20% over the last 24 hours and has climbed to its highest since …

Amazon Web Series is Making the use of Hyperledger and Ethereum easy

Amazon Web Series to Start a New service for Hyperledger and Ethereum easy Amazon Web Services has recently announced the service it is going to launch out-of-the-box a blockchain service for Ethereum and Hyperledger Fabric protocols. AWS chief evangelist Jeff Barr wrote in a blog post: “Recently available templates allow …

Australia to Mine Bitcoins by reopening Coal Power Plant

Contract with Crypto Mining firm Signed by Australia to reopen Coal Power Plant A contract has been signed with the IOT Group, a cryptocurrency mining firm by Australia’s Hunter energy to reopen a coal power plant in the Hunter Valley Region of Australia. Although new and advancing technologies are largely …

NY Federal Reserve Chief Nominee says Cryptocurrencies can’t Replace Dollar

Digital Currencies cannot replace Paper Currency says NY Fed Chief Nominee CEO of Twitter Jack Dorsey predicted that Bitcoin would surpass all the world’s currencies in around ten years. But the man nominated to be the head of New York Federal Reserve differs. In a speech on Friday, the present …

Blue Check Mark on Twitter Doesn’t mean your Account is Safe

Bad Checks: Twitter’s Identity Crisis Costs Users More Than Bitcoin According to a Russian Writer, it’s one of crypto’s most generally embraced slogans, though one that’s becoming even more important on social media, where battling factions inclined on promoting the next big high-tech investment are presently turning the very symbols …

Bitdegree Offers Online Courses for Students with Crypto Incentives

Bitdegree a Cryptocurrency Startup Pays Students while Learning Bitdegree, a Lithuanian cryptocurrency startup wants to change the face of online education using their online platform and cryptocurrency. What is BitDegree? BitDegree an online platform with its own cryptocurrency. The firm was founded in 2017. BitDegree plans to change how education …

Press Release

shares