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Facebook is planning to launch its own cryptocurrency and, according to a report of the New York times, is already in talks with exchanges to get their coin listed. Jeremy Gardner, who founded decentralized prediction market platform Augur, says we're in for a 'hell of a ride'.
On Twitter, Gardner stated: 'Mark my words, if Facebookcoin (or Zuckbucks) is actually listed on crypto exchanges and is made accessible to 2.5 billion people, we’re in for a helluva ride.' People are questioning whether Facebook will be a true cryptocurrency, but that's not Gardners point. 'My point is that they’d listed on crypto exchanges where *other* real crypto currencies can be found.'
Mark my words, if Facebookcoin (or Zuckbucks) is actually listed on crypto exchanges and is made accessible to 2.5 billion people, we’re in for a helluva ride.
— Jeremy Gardner (@Disruptepreneur) February 28, 2019
Alex Gladstein, Chief Strategy Officer of the Human Rights Foundation, responded to the comments of Gardner stating that it will be 'a hell of a ride straight to surveillance and censorship, unfortunately'. Gardner replied: '(I) Would take Facebook’s digital currency over any nation state’s, and it will make it much harder for the latter to compete now. And my point here is this is going to expose an *awesome* number of people to true crypto currencies.'
lol. Would take Facebook’s digital currency over any nation state’s, and it will make it much harder for the latter to compete now.
— Jeremy Gardner (@Disruptepreneur) February 28, 2019
And my point here is this is going to expose an *awesome* number of people to true crypto currencies.
Gardner added that 'there will be more eyes on crypto than any point in this technology's history' as soon as Facebook users are introduced to a cryptocurrency.
Read more: 'Facebook Coin' might be ready to trade in first half of 2019
According to the report of the New York Times, Facebook Coin will be a stablecoin, but not one only linked to the value of the daller. Facebook would be looking at pegging Facebook Coin to several foreign currencies. The company also wants to make the coin available to use on platforms such as Messenger, Whatsapp and Instagram.