Facebook, Instagram, Signal are said to be planning to roll out new cryptocurrencies over the next year which are aimed at allowing users to send money to contacts on their messaging systems like Venmo or PayPal that can move across international borders. Facebook is silently working on a coin that user of WhatsApp could send to friends and family instantly, according to a latest report from The New York Times. The social media giant has held conversations with cryptocurrency exchanges about selling the Facebook coin to consumers. On the other hand, Telegram which was an estimated 300 million users worldwide is also working on a digital coin. Signal, an encrypted messaging service has its own coin in the works. So do other big messaging applications South Korea and Japan, Kakao, and Line. If had the right idea, Facebook and Telegram could make the digital wallets used for cryptocurrencies available, in an instant, to hundreds of millions of users. Most of the companies are said to be working on digital coins that could exist on a decentralized network of computers, independent to some degree of the companies that created them. Like Bitcoin, the new cryptocurrencies would make it easier to move money between countries. The current ...
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