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Facebook is still in love with the idea of ​​issuing digital currency


A recent report claims that tech giant Facebook (now known as Meta) is still planning to develop its own digital currency despite previous failures in the crypto space. Mark Zuckerberg and the Masters of the Universe would explore the “least regulated way to offer digital currency”.

A recent report from the FinancialTimes claims that Meta, the parent company of Facebook, plans to create a digital currency – much like its failed Libra Project cryptocurrency. The company announced the creation of the Libra cryptocurrency in 2019, renamed the project “Diem” and shut it down in February 2022.

Mark Zuckerberg presents Meta (Facebook)

The project came under intense scrutiny from politicians around the world, and the project appeared to be completely killed off after intense questioning of Facebook’s management by Congress. Rep. Brad Sherman (D-CA) went so far as to tell a Facebook executive during a 2019 hearing that creating a Facebook currency would be worse than 9/11.

Rep. Sherman referred to Facebook’s motto as “Zuck Bucks,” a name that would have been maintained internally. But Zuckerberg would like to push forward with a cryptocurrency project, as long as he can avoid government regulation and scrutiny.

Meta staffers are said to be working hard to find the “least regulated way to offer digital currency”. Facebook did not say whether the report of the FinancialTimes is precise.

When reached for comment, a Facebook spokesperson said: “We have no updates to share today. We are always considering new product innovations for individuals, businesses and consumers. As a company, we’re focused on building for the metaverse and that includes what payments and financial services might look like.

Stephane Kasriel, the head of Facebook’s finance division, reportedly sent a memo to staff in January, according to the Financial Times, in which she stated, “We are making changes to our product strategy and roadmap. . . so that we can prioritize building for the metaverse and what payments and financial services will look like in this digital world.

Learn more about the FinancialTimes here.

Lucas Nolan is a reporter for Breitbart News covering free speech and online censorship issues. Follow him on Twitter @LucasNolan or contact by secure email at lucasnolan@protonmail.com



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