Facebook is reportedly planning its own stablecoin

Re:Facebook is reportedly planning its own stablecoin by fipple on Friday December 21, 2018 @03:22PM (#18736286)

This is how blockchain nerds report about Facebook cloning PayPal.

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Re:Facebook is reportedly planning its own stablecoin by jameslevy on Friday December 21, 2018 @03:29PM (#18736335)

Presumably there's a reason they have a few dozen blockchain engineers working on this beyond just Venmo/Paypal functionality, such as this stablecoin actually being an ERC-20 token that can be transferred to your own wallet.

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Re:Facebook is reportedly planning its own stablecoin by fipple on Saturday December 22, 2018 @01:14AM (#18739247)

If this is an ERC 20 token I will eat my hat.

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Re:Facebook is reportedly planning its own stablecoin by dsr_ on Friday December 21, 2018 @03:40PM (#18736432)

Wondering why a centralized authority for a stablecoin needs to use a blockchain at all.

This is classic company scrip / money transfer business: keep a ledger of transactions, publish your fees, register as an EFT company, follow the regulations.

Facebucks.

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Re:Facebook is reportedly planning its own stablecoin by gwbas1c on Friday December 21, 2018 @04:04PM (#18736639)

Perhaps because the plan is that, once the cryptocurrency is actually used for cash with a stable value, they won't prop it up?

That's basically what happened when the USD was no longer backed by gold.

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