Report: Facebook Contemplating its bitcoin for payments

Even the Wall Street Journal reports that Facebook intends a cryptocurrency-based payment system that it could launch for countless consumers worldwide.

The system would utilize a digital coin different in that Facebook would plan to maintain the value of the coin stable, although very similar to bitcoin. Similar and bitcoin cryptocurrencies happen to be susceptible to wild fluctuations in value.

It may reportedly endanger charge cards sidestepping the fees which generate much of their revenue.

The Journal report cited people familiar with the matter. It said Facebook is recruiting heaps of companies and online merchants to launch the network. Facebook’s programs may include users who interact with advertisements or other characteristics to be financially rewarded by strategies.

Facebook says only that it is currently exploring different software for technology that is cryptocurrency.