Yes, it's true, Facebook is working on its own cryptocurrency. A news bounced on the net that is, as reported by The Wall Street Journal, more real than true and with some interesting features.
Unlike existing cryptocurrencies, such as the famous Bitcoins, the digital currency issued by Facebook will not be affected by fluctuations in value, because it will be a stablecoin: its value will be linked to fiat coins, like the dollar or the euro.
Therefore, more than a bitcoin, the Facebook cryptocurrency would seem to resemble the Steem Dollar, the currency used in the Steemit social network for payments between users. Or again, like the Linden Dollar ... did you get a flash ?!
Exactly, if you are not Millennials, you will remember Second Life, the virtual world in which the first experiments of virtual currency have been made. But let's get back to the point. After all, we're talking about buying goods and services with a virtual currency, not living another life in a fictitious world to escape everyday problems! (Sigh).
The difference between the currency of Facebook and the Linden Dollar is that the latter varied in relation to the relationship between supply and demand, and its exchanges were regulated by a central authority. While the Linden Dollar was the virtual currency of yesterday, the Facebook cryptocurrency will be (perhaps) the virtual currency of tomorrow, precisely in 2020.
And being a social network frequented by billions of users around the world, several institutional meetings will be needed, like the one with US Treasury officials and the Bank of England governor. The first certainty governments need before proceeding in any direction is that there are strict anti-money laundering regulations. That of Facebook, instead, is that we will be there, connected. Our? The semplicity. We can buy from intuitive exchange platforms, from the possibility of sending money to Whatsapp without having a current account. In short, from the comfort of saving time rather than money. Will users be ready to "feed it" to Facebook? Perhaps, to imagine it as a tender kitten to leave a coin ... provided that you do not revive a more captivating version of Second Life.