Facebook has spoken with various companies, including Visa and MasterCard, about the project, which is known internally as Project Libra, according to the report.
, about the project, which is known internally as Project Libra, according to the report.
The project would include a digital currency, underpinned by blockchain technology and pegged to the U.S. dollar, which users of Facebook's WhatsApp messaging service could use to send money to one another, according to the Journal and a DecemberThe company has been recruiting e-commerce companies and apps to accept the Facebook currency, the Wall Street Journal on Thursday reported.
about how important payments and private commerce will be to the future of Facebook. Zuckerberg has said that if e-commerce takes off on Facebook's various apps, that could drive brands to spend more on advertisers. The company could also eventually create new revenue streams from financial services if users adopt its payments features.
"Payments and commerce are Facebook's only way out from its freemium, advertisement business model," said
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