Facebook may launch its encrypted currency this month

science and technology

A new report revealed that Facebook may launch its encrypted currency later in June.

It is reported that the encrypted currency, which is being developed under the name "Project Libra", aims to allow global Facebook users to transfer funds across borders and make purchases online

According to the Indian website TOI, Facebook plans through its encrypted currency to include rewards for traders who adopt this currency.

In fact, the employees of the project will have the option of paying for electronic currency, the Engadget site said on Wednesday. Given Facebook's security management, the blockchain is supposed to be "more centralized" than the company and the company will use foreign companies to help run the system.

Facebook will also charge third-party companies a license fee of $ 10 million per partner, and will transfer the money to support the currency with conventional funds to maintain its stability.

In an interview with Harvard law professor Jonathan Zetrin in February, Mark Zuckerberg, Facebook's chief executive, said he was "most likely" interested in putting Facebook on blockchain technology. Later in May, Facebook began using its " To encode on its platform of 2.38 billion users.