Facebook to develop its own ‘cryptocurrency’

Facebook is looking to develop its own cryptocurrency, and disrupt the banking and money transfer process, inspired by the people’s attitudes towards financial management in the digital age.

Facebook to develop its own 'cryptocurrency'

AI chatbots and on-demand transfers, you say? Sounds very much like the key areas Facebook would look to capitalize upon with its own crypto project. 

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As per the report:

While new mobile tools are helping people instantly manage their money be that through automated savings apps, AI chatbots or on-demand transfers established banks are becoming more personalized and more human as they look for ways to remain relevant.”

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To glean more insight into consumer trends in this area, Facebook commissioned Accenture to survey 1,026 people on their digital banking opinions.

The report suggests that 64% surveyed using Facebook for ‘activity related to financial services or products’, you can’t help but get the sense that Zuck and Co. were seeking data for their own cryptocurrency

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Ammara Khan
Author: Ammara Khan

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