Here’s a real twist for you all. Recently, Live Bitcoin News has reported that Facebook is looking to create its own digital currency called Facebook Coin, set to be released in 2020. The coin will be a stable currency, meaning it will be tied to the U.S. dollar and will not be subjected to the same volatility and price swings one often sees with mainstream coins such as bitcoin, Ethereum and Litecoin.
An Interest Notion About Facebook
In addition, the currency will also be part of growing plans to build what’s called the “Libra Network,” a cryptocurrency payment platform that will allow users to purchase goods and services with Facebook Coin through the social media platform. In addition, all companies or merchants that have Facebook login options on their websites can also accept Facebook Coin payments.
Well, Mark Zuckerberg had to go to certain people to learn more about crypto, and who better to visit than his old rivals the Winklevoss Twins? Cameron and Tyler, who have been involved in cryptocurrency for years and began the Gemini exchange in New York?
That’s right, Mark Zuckerberg has had to consult with his old enemies the Winklevoss Twins to garner information and knowledge to build his upcoming cryptocurrency network. Prior to their work with crypto, the Twins were known for their lawsuit against the alleged Facebook creator. Both Cameron and Tyler claimed that Zuckerberg stole the idea of Facebook from them, and ultimately won a $65 million settlement against the future Silicon Valley entrepreneur.
The entire odyssey was revealed in the Oscar-winning film, “The Social Network.” Ben Mezrich, who wrote the book that served as the basis for the movie, commented on the situation:
Facebook’s idea is to launch their own crypto. So, who do they have to reach out to? Now, the Twins know more about this than Facebook does, so they’re one of the people that [Zuckerberg] has to go to so he can get into this world.
You know what the crazy thing is? The Twins gave their time and assistance! While the details of this assistance are unknown at this time, it’s quite interesting (and refreshing) to see two parties put their anger and differences aside so that they can potentially bring a useful and prominent project to fruition.
Some Crypto Parties Know More Than Others
Aside from the Twins, Zuckerberg also sought aid from Coinbase, one the largest and most popular cryptocurrency exchanges in the United States. Facebook currently boasts more than two billion individual users (minus all the fake accounts, of course) and wants to allow its customers to use Facebook Coin through WhatsApp.
The Winklevoss Twins had a period where they were cryptocurrency billionaires. They originally bought more than 200,000 coins at seven dollars when bitcoin first came about. When it reached $10,000 in 2017, they saw several zeroes added to their net worth.
The post Zuckerberg Gets Crypto Help from Winklevoss Twins appeared first on Live Bitcoin News.
Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries.
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