Date: 4 weeks ago   Category: Hi-Tech

Facebook develops the cryptocurrency in Switzerland


It seems that Facebook became a little closer to creation of own virtual money. The giant of social networks created in Switzerland the company which focused on payments and a blockchain and also technologies supporting cryptocurrencies, such as bitcoin.

according to the Swiss edition Handelszeitung, the kirpotovalyut of Facebook will be tied to US dollar and therefore can remain stable unlike bitcoins which began to fall in 2017. The Informant of Tech reports about it, referring to CNET. Facebook created Libra networks in Geneva a few weeks ago. Libra is the internal name of social network for digital currency.

the Swiss company belongs to Facebook Global Holdings II in Ireland and will be engaged in development program and the hardware for such currency functions as payments, a blockchain, analytics, big data and management of identification. However Facebook refused to comment on currency plans, but confirmed that it works over a blockchain systems.

"As well as many other companies, Facebook studies ways of use of opportunities of technology of a blockchain", - it is said in the statement. "This new small team studies a set of various applications". The blockchain is a technology of enciphering which forms a set of blocks of the data which are writing down transactions and who made them. Any party does not control data which are decentralized. Early we reported

about what Facebook told about the future updates in a news feed. Judging by comments of the company, updates will happen gradually and at first they will not be noticeable even to users. Also Facebook decided to restore function of "public viewing of the page".

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