Topic: What blockchain is Facebook forking for their "stable coin" (Read 162 times)
I do not like this guy and his social network with these terrible rules and the way people are shut up there. Sorry, distracted, I think they will develop their blockchain. It’s not their level to take the already ready blockchain as a basis, they are kings.
I have no doubts that Facebook is going to launch their crypto coins, but I do not think it is going to be a stable coin. I simply do not see any reason for that because as the first mover, they can make a lot of money with their market entrance.
They will build their own IMO. That's the reason why they hired a lot of blockchain experts because their main goal is not to rely with any chain but to create on their own and make the competition tougher. I didn't noticed that he's avoiding to use the term cryptocurrency.
Do you have some of his interviews or articles that states information that when he's ask to tell about his stable coin , he never used the word crypto?
Do you have some of his interviews or articles that states information that when he's ask to tell about his stable coin , he never used the word crypto?
I got a laugh at how Zuck is avoiding using "cryptocurrency" and purposefully using "stable coin" every chance he gets. Zucker the fucker is a hypocrite.
I digress... what blockchain do you think they're using? Or are they building their own 100%? I highly doubt it.
I digress... what blockchain do you think they're using? Or are they building their own 100%? I highly doubt it.
Mr. Zucker is always aware when it comes in press release or interview about crypto, and using crypto terms because by his mouth it can create a hype movement it the market, he also much influenced person.
They are building their own blockchain. They have called into some blockchain developers and had been doing the R&D for quite a time now.
As he clearly stated that it would be a stable coin, I believe it would just be used as a virtual token within Facebook ecosystem so that they don't have to use payment processors unless money gets in or out of the ecosystem.
As he clearly stated that it would be a stable coin, I believe it would just be used as a virtual token within Facebook ecosystem so that they don't have to use payment processors unless money gets in or out of the ecosystem.
They are not forking any coin. They are creating their own blockchain.
It will be a stable coin, backed up by Switzerland Government Bonds
https://www.coindesk.com/facebook-registers-secretive-libra-cryptocurrency-firm-in-switzerland
It will be a stable coin, backed up by Switzerland Government Bonds
https://www.coindesk.com/facebook-registers-secretive-libra-cryptocurrency-firm-in-switzerland
There isn't a lot of information available about the project. They keep it a secret. What is known is that it will be called GlobalCoin or Libra and they are planning to become a rival to Bitcoin.
Their careers site already has many blockchain related job offerings:
https://www.facebook.com/careers/jobs/?q=blockchain&page=1
I was able to find this, which might suggest that it will be based on the bitcoin blockchain or be similar, however you interpret it:
https://www.forbes.com/sites/billybambrough/2019/06/06/facebooks-radical-bitcoin-beating-cryptocurrency-plans-revealed/#13b312903564
Their careers site already has many blockchain related job offerings:
https://www.facebook.com/careers/jobs/?q=blockchain&page=1
I was able to find this, which might suggest that it will be based on the bitcoin blockchain or be similar, however you interpret it:
Quote
The bitcoin-esque cryptocurrency, which has been linked to a Facebook project codenamed Libra, is expected to be aimed at developing countries where traditional currencies are less stable and will function as a "borderless currency," according to The Information's report.
https://www.forbes.com/sites/billybambrough/2019/06/06/facebooks-radical-bitcoin-beating-cryptocurrency-plans-revealed/#13b312903564
I got a laugh at how Zuck is avoiding using "cryptocurrency" and purposefully using "stable coin" every chance he gets. Zucker the fucker is a hypocrite.
I digress... what blockchain do you think they're using? Or are they building their own 100%? I highly doubt it.
I digress... what blockchain do you think they're using? Or are they building their own 100%? I highly doubt it.
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