Blockchain of Fashion
Facebook to Launch Cryptocurrency?
Social media giant Facebook is said to be considering entering the crypto sphere according to reports.
The idea of a 'Facebook Coin' has been floated before, however, the idea may be closer to fruition than ever before with the announcement of the company's newly-formed blockchain group.
With 2 billion users worldwide, if it were to occur it would mark a serious shift in public perception of cryptocurrency and blockchain.

The idea of a 'Facebook Coin' has been floated before, however, the idea may be closer to fruition than ever before with the announcement of the company's newly-formed blockchain group.

Given the Cambridge Analytica data scandal which involved the collection of personally identifiable information from up to 87 million users of the social media platform in 2014. Blockchain's decentralized record-keeping system may help restore the faith of those users that were affected.

It could also help with other issues like advertising sales and identity verification. Blockchain also forms the technology behind the majority of cryptocurrencies, logging transfers and ownership of the digital tokens.

The company said it was investigating ways to harness blockchain technology's power in line with the approach being across all industries.

Facebook typically takes a cautious approach to the roll-out of new features and it is likely to be some time before Facebook's blockchain and cryptocurrency work will be revealed to the world.