Speculations about the purpose of Facebook’s planned digital coin are getting wilder. Ignoring key features like independence and decentralization, one analyst predicts that ‘Facebook Coin’ would look more like Bitcoin or Ethereum than your Starbucks reward points.
Facebook Coin Might Encourage Viewing Ads
With growing interest, many are trying to envision Facebook’s planned ‘FaceCoin.’ Lacking specifics from Facebook, speculations abound about everything from the coin’s name to what it will be used for.
Under the code name “Project Libra,” tech journalists say, Facebook, Telegram, and Signal are devising their own digital token, which would allow their billions of users to exchange money across the Internet, through their payment systems.
Others argue that Facebook’s coin will be more like one of the major cryptocurrencies. In effect, one analyst, Lisa Ellis, a MoffettNathanson partner, predicts:
The Facebook (FB) coin (Facecoin, perhaps?) would actually look more like one of the large public…