Facebook can create its own crypto currency

Facebook is considering the possibility of creating its own crypto currency, which would allow users of social networks to make electronic payments, Cheddar reported citing sources.

According to one of the interlocutors of the channel, the company's management is "serious about" the task, the execution of which, "most likely, will take several years." At the same time, sources say that the company does not intend to attract investments through the resale of the currency and tries not to spread the initiative among its employees.

According to available information, the crypto currency will be used to make users payments and purchases within the platform.

The work on this direction is presumably being carried out by the Facebook vice president, former PayPal president David Marcus.

Meanwhile, in February, Marcus said that Facebook does not plan to launch a crypto-currency payment system on the platform "in the foreseeable future." Then he referred to a lot of problems related to crypto-currencies, including high remittance fees and low transaction confirmation rates.