Bitcoin, Crypto currency, Blockchain

Tim Draper wants to also participate in Facebook crypto-project

73f9a53510f9c0fa0b4058ba2f86daac - Tim Draper wants to also participate in Facebook crypto-project

Tim Draper wants to also participate in Facebook crypto-project

Home News Tim Draper wants to Facebook crypto-project participate

Marcel Knobloch –

All around Facebook’s own crypto-rumors that have not been commented by the company itself, however, circulating currency for quite some time. For the first time, Bloomberg speaks of Facebook’s Kryptorojekt and possible execution in the Form of a stable coins and its potential investors.

As Bloomberg reported yesterday, the venture capitalists Tim Draper with Facebook, Inc. meeting to discuss possible investments in the crypto-currency project for the social network (freely translated):

I’m interested to hear the story. We’ll see if it fits.

Facebook wants to collect up to a billion dollars to launch the Initiative of a private digital Assets. In addition to Draper for more investors before meeting with wealthy private persons also have the opportunity to put capital into the project. This news was first reported by the Tech journalists of the New York Times Nathaniel Popper, without an official confirmation.

Bloomberg goes on to state that Facebook was working on a Stablecoin whose value is tied to the U.S. Dollar or any other Fiat currency in order to minimize the strong volatility fluctuations. The most famous Stablecoin is a Tether that is also tied to the value of the US Dollar. In the case of a Tether is still a matter of debate whether the entire amount of the circulation of the Coins is actually covered by a corresponding Bank account. Facebook plan continue to be users of the Messenger service Whatsapp to make within the App Transfers. On to India to serve as the first Piloprojekt to determine the practical suitability before this service is due to be released for more countries in the world.

Currently, Facebook is still a long way such a digital coin away on the market, because there are still fundamental questions of values around the protection of digital assets is not entirely clear, according to Bloomberg. If Facebook would introduce the Stablecoin in fact, for its Apps, Facebook, Whatsapp and Instagram, 2.7 billion people have access to this Stablecoin, so that very soon a huge mass of potential users could use this Service. Furthermore, it is uncertain whether this Stablecoin uses the Blockchain technology, or other software solution.

Since the hiring of former PayPal President David Marcus for the division of the Messenger App, the Public expects a corresponding progress in the area of financial technology. Last year in may, was founded in Facebook is a Blockchain-Department, which has grown since then in terms of the number of employees steadily. Recently, some new Vacancies have been advertised. Why Facebook foreign gather capital to Finance the project remains, as yet, uncertain, as the company has large financial reserves.

Featured Image: NicoElNino | Shutterstock

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