There’s been a lot of speculation about Facebook’s blockchain activities. Yesterday the
Wall Street Journal (WSJ) revealed that Facebook has been talking to Visa, Mastercard and payment processor First Data Corp and is targeting e-commerce payments and user rewards.
The WSJ reports that “Project Libra” involves a digital coin that Facebook users can send to each other or use to make purchases. Facebook is in discussions with e-commerce companies and apps to accept the coin. Much like many sites which offer the option to login using Facebook, those same credentials could be used for payments. The incentive for e-commerce sites is a reduction in merchant fees.
Plus e-commerce sites could potentially use the Facebook tokens received to pay for Facebook adverts.
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