Today’s
bitcoin (BTC) price was trading at an average of US$8,750, falling about 7%.
Ethereum (ETH) had dropped almost 10%, trading around US$690, and
Bitcoin Cash (BCH) recorded losses in the 9% range.
CLICK BELOW FOR REAL-TIME CRYPTOCURRENCY PRICE INDEXES:
Get ready to save up some ‘ZuckBucks’. Facebook may be looking to create its own cryptocurrency.
That, according to the news site Cheddar. The report says the social network is ‘very serious’ about the possibility of building its own digital currency for fast, secure online payments. This follows
an earlier report from Recode that the company has already formed a
blockchain team to research applications for the technology.
Facebook responded to the article saying ‘it's looking into several applications for blockchain technology’ but didn't offer specifics.
"Like many other companies, Facebook is exploring ways to leverage the power of blockchain technology," said a Facebook representative in an emailed statement. "This new small team will be exploring many different applications. We don't have anything further to share."
While
cryptocurrencies still aren't widely used for buying goods and services, a version created by Facebook for its 2.2 billion users around the world could change that.
So are the days of sending dollars to friends over the internet numbered? Stay tuned.