2022 Fintech and Funding Conference (FFCON22: REGEN) | Dec 1 + Dec 6, 2022 Hybrid

Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say

Bloomberg | Sarah Frier and Julie Verhage | Dec 20, 2018

facebook and crypto - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources SayFacebook Inc. is working on making a cryptocurrency that will let users transfer money on its WhatsApp messaging app, focusing first on the remittances market in India, according to people familiar with the matter.

The company is developing a stablecoin -- a type of digital currency pegged to the U.S. dollar -- to minimize volatility, said the people, who asked not to be identified discussing internal plans. Facebook is far from releasing the coin, because it’s still working on the strategy, including a plan for custody assets, or regular currencies that would be held to protect the value of the stablecoin, the people said.

Facebook has long been expected to make a move in financial services, after hiring former PayPal president David Marcus to run its Messenger app in 2014. In May, Marcus became the head of the company’s blockchain initiatives, which haven’t been discussed publicly in detail. Facebook has been on a hiring spree, and now has about 40 people in its blockchain group, according to employee titles on LinkedIn.

"Like many other companies, Facebook is exploring ways to leverage the power of blockchain technology," a company spokesman said in a statement. "This new small team is exploring many different applications. We don’t have anything further to share."

WhatsApp, the company’s encrypted mobile-messaging app, is popular in India, with more than 200 million users. The country also leads the world in remittances -- people sent $69 billion home to India in 2017, the World Bank said this year.

See: 

The past year has seen a boom in crypto projects related to stablecoins. At one point, there were more than 120 ventures related to this theme, according to Stable.Report, a website that tracks stable tokens. The concept was created to create a digital coin that would be far easier to use on daily purchases because it would be more stable than currencies like Bitcoin.

The idea has proven tough to carry out in real life, with at least one high-profile project shuttered in recent weeks. A stablecoin known as Basis recently closed after eight months. The Hoboken, New Jersey-based company said there was no apparent way around being classified as a security as opposed to a currency, which could significantly reduce the number of potential buyers. The swift collapse came after Basis drew well-known backers like Andreessen Horowitz and Kevin Warsh, a former governor of the U.S. Federal Reserve.

Perhaps the most high-profile stablecoin to date, Tether, has also been surrounded by controversy. While Tether’s creators say each of its tokens is backed by one U.S. dollar, the company’s refusal to be audited has raised questions about whether that’s the case.

Continue to the full article --> here


NCFA Jan 2018 resize - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources SayFF Logo 400 v3 - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Saycommunity social impact - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say

Support NCFA by Following us on Twitter!







NCFA Sign up for our newsletter - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say




Guest Post | Sep 29, 2022 Being simple is often a good thing in a world full of complexity and technical breakthroughs beyond your wildest dreams. Just for that, there is a framework called Vue.js. Applications built using Vue.js may start modest and grow into something greater, but those built with another framework would default to complexity. Keep reading to learn more about Vue.js and its operation. VueJS: What Is It? A progressive framework for creating user interfaces is called VueJS, or just Vue (UI). In contrast to previous monolithic frameworks, Vue is constructed using just the simplest lines of code to maximize performance. Only the display layer is the subject of its library, making it easy to approach and incorporate into other systems. Additionally, it can create single-page applications (websites consisting of only one page), which enable connection with a variety of contemporary technologies like Laravel, or, best of all, hire Vue js developer to make things easier. User interfaces like React (used by Facebook), Angular (supported by Google), Ember, etc. are built with Vue.js. Vue.js, on the other hand, renders quickly and uses little memory. What Is the Purpose of Vue.js? Vue.js was created primarily to create one-page ...
Read More
Vue.js - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say
NACO | Sep 28, 2022 This year's report analyzes Canadian angel investment totaling $262.1 million, a record recovery from 2020’s pandemic low of $102.9 million. For the first time in our history, we’re leveraging our international platform to spotlight the achievements of 27 women trailblazers. These leaders are at the forefront of Canada’s innovation economy. Together, we are working to transform inertia into action, barriers into opportunities and gaps into indicators of how much more is possible. This year‘s report is an in-depth, data-driven analysis that highlights persistent regional inequities. This is not just academic. It is a lived, day-to-day experience for Canada’s entrepreneurs. This is especially true for those that face systemic barriers and limited local pathways to mentorship and funding networks. In these uncertain times, the economic and social imperative to take bold action cannot be overstated. See:  OSC Publishes 2022 Investment Funds Survey Results Data However, change is coming. In communities across the country, innovation leaders are putting in place the building blocks needed to support entrepreneurs within emerging provincial and territorial ecosystems. Together we are creating a more collaborative, nationally accessible entrepreneurial economy. As NACO celebrates its 20th anniversary, we strive to build a future that ...
Read More
2022 Report on Angel investing in Canada - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say
Guest Post | Sep 28, 2022 Users dealing with cryptocurrencies use these assets to earn money. They often exchange one type of digital coin for another or for fiat money. To be profitable they need to exchange crypto assets quickly and at good exchange rates to receive maximum benefit from the value of their assets whose price is constantly changing and can vary widely.  The good news is that today it is easy to exchange currencies at good rates 0.065 ETH to USD. Electronic exchangers help holders of digital assets with this. Most users prefer to use online exchangers than actual crypto exchanges or P2P sites because their services are much more convenient, simpler, and profitable (lower fees). The main thing is to find a reliable service provider who will: offer good exchange rates; and guarantee the transaction’s security Note that problems will not arise if you are properly informed how the transaction works and approach each digital asset exchange with responsibility. When to change cryptocurrency If you want to organize a profitable trade, do not rush to conclude a deal. Pay attention to changes in the cryptocurrency rates by studying the charts and graphs. It is no secret that ...
Read More
Exchanging bitcoin - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say
OSC | Sep 14, 2022 The Investment Fund Survey (IFS) is an annual survey sent to more than 400 investment fund managers (IFMs) registered in Ontario to collect data on approximately 5,700 prospectus-qualified and exempt investment funds with at least $10 million in net assets. The collection of such data will allow for more comprehensive oversight of the Canadian investment fund industry and delivers on the OSC’s mandate of contributing to the stability of the financial system. See:  Why Data is the Lifeblood of a Modern Regulator Each year the annual data from the IFS is shared by: providing aggregated survey data as a downloadable CSV file on a no-names basis, and publishing charts that allow stakeholders to see certain insights from the data. This data is shared to promote greater transparency, in a manner that protects IFM confidentiality. This information will be updated annually as new data is received from IFMs. Aggregated IFS data  (CSV) Summary IFS charts  (PDF) Read more about the IFS to understand why and how it is conducted. Continue to the full article --> here The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking ...
Read More
OSC 2022 Investment fund survey - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say
Guest Post | Sep 28, 2022 The year is 2022, and nothing is impossible. People are slowly shifting from regular paper currency to digital one, which is quite a revolutionary idea. It has made things easier and processes faster. Cryptocurrency has now entered every segment of human life. A few years ago, no one could have imagined buying the citizenship of a country through cryptocurrency. However, now it’s totally possible. Some countries across the globe allow you to buy citizenship by investing in real estate through cryptocurrency. One prominent example is that of El Salvador. It has started accepting crypto payments in almost all of its business processes. However, getting citizenship simply by investing in real estate through cryptocurrencies is a bit tough for other countries. Instead, the investor has to sell off his cryptos and then use this money to be a part of the citizenship by investment (CBI) program. Simply put, the money is transferred to the bank account, which proves its legality. Once all this is done, the investor can get his hands on the second passport. However, as it is a new concept, buying citizenship through cryptocurrency may get a little complicated. There could be lots ...
Read More
Unsplash image bitcoin - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say
FP | Kevin Orland | Sep 21, 2022 Royal Bank of Canada is merging its RBC Ventures partnership group with its RBCx technology banking and innovation arm in a bid to capture more business from entrepreneurs at all stages of their startups’ growth. Sid Paquette, who has led both RBCx and Ventures since April, will head the combined business, the Toronto-based bank said in a statement Wednesday. The new RBCx will remain part of Royal Bank’s personal and commercial banking business, headed by Neil McLaughlin. The merger creates a single entity that can provide startups with everything from banking services and assistance from a group of specialists and technologists who can help them scale their businesses to access to capital including venture investments and even outright acquisitions. See:  Plaid Officially Opens it’s Canadian Office and Announces RBC Data Sharing Agreement RBC Research: Preparing for Hyperdrive – Themes that will define our new future RBCx has about 4,000 technology clients across Canada, and RBC Ventures has supported startups including the Dr.Bill medical-billing software, the Ownr business-launching service and the Mydoh money-management app for kids. “This is really the first time that these sorts of skills have been integrated into one practice,” ...
Read More
Unsplash Andrew Gook Royal bank plaza - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say
Guest Post | Sep 28, 2022 Augmented Reality and Virtual Reality (AR and VR, respectively) have transformed several industries since their expansion in the last decade. As companies like Oculus VR, Nvidia and Snap democratized the technologies for private and small-business use, industries found several unique uses for the emerging tech. In retail, companies use AR to help consumers pick furniture, try on outfits before purchasing and test different house paint colours. Hospitality chains have leveraged VR to offer guests a detailed showcase of their luxury rooms and amenities. And the medical industry is currently utilizing AR and VR to train students and professionals without human subjects. With seemingly limitless possibilities, it’s no wonder the emerging technologies are currently disrupting the real estate industry. As real estate thought leader Regan McGee explains, “Anytime you bring innovative technology to the table that can make the process easier, it will be viewed as disruptive.” He explained in his interview with Superb Crew that “Incidentally, technological advancements are beginning to gain real traction in a stalwart industry that was initially skeptical.” How are AR and VR gaining traction in the traditionally low-tech industry? This article explores a few roles these immersive tools play ...
Read More
Freepik ksandrphoto AR VR - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say
Wealth Professional | Noelle Boughton | Sep 27, 2022 Purpose Advisor Solutions (PAS) is partnering with a new wealth firm that is using Nobel Prize winning science to modernize the Canadian wealth management sector. It’s part of Purpose’s vision to support more small, independent firms coming into the industry. Origin Wealth is a new portfolio management firm based in Vancouver, which wants to provide an investing experience that empowers Canadians’ decision-making. It is aiming to transform people’s relationship to money from scarcity to abundance, and is using a disruptive experiential learning method rooted in Nobel Prize-winning economic science to educate people about investing. See:  Clearco Hires Advisor to Evaluate Strategic Options and Exits Foreign Markets Gans likened this to the registered investment advisor space, which is growing in the U.S. Jeff Gans, CEO, Purpose Advisor Solutions One of our beliefs is that the Canadian market needs more entrepreneurs in the investment space. There are a lot of big providers, but we believe there’s a need to have more new, innovative, independent advisors. We offer a platform for independent minded and entrepreneurial advisors who want to build their own advice business.  We provide them with the tools they need to manage a ...
Read More
Jeff Gans - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say
Arthur0x on Medium | Sep 25, 2022 Today, the gaming market is worth over $300B (according to both Accenture and BitKraft) with an expectation of 12% annual growth rate from 2022 to 2028. Overview: Our thesis is that the integration of Web 3 elements into gaming will likely usher in a new era of gaming dubbed “Play-to-Own”. We posit that unlocking the economic activity within games will drastically expand the Total Addressable Market (“TAM”) for the gaming industry as well as supercharge the value creation. See:  FitFi and Web3: Step App launches on ‘move2earn’ protocol Potential: In 2021, we caught a glimpse of the potential of Web3 Gaming via Axie Infinity’s rise to fame. Popularizing the Play-to-Earn (P2E) model most of us are familiar with, Axie has grown from 10k DAUs in early 2021 to a peak of 3 million DAUs and brought in $1.3B revenue in 2021 according to Nansen. What’s more surprising is that Axie was still in its infancy Interest and ecosystems:  Games that integrated NFTs have experienced much greater success in terms of player retention, growth and revenues compared to their Web2 counterparts. We are already beginning to see a myriad of projects launching with innovative ...
Read More
Web3 gaming - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say
Sep 28, 2022 People in scrubs rushing back and forth to treat patients in distress is a stereotypical image of hospitals. It is no surprise that many hospitals and other healthcare facilities are experiencing managerial difficulties. Not all organizations spend money on enhancing their internal procedures. That, however, ought not to be the situation. Great medical practitioners are only as effective as the administrative and managerial staff behind them. 1. Clinic Management System Managing a healthcare organization's medical, administrative, legal, financial, and regulatory aspects is what a Medical Management System is all about. It facilitates quick retrieval of patient information to create various records, such as categorization by demographic factors like gender, age, and so on. Among the medical management system's features are medical billing services, a streamlined method of handling all aspects of patient billing and collection, including calculating and processing payments and issuing bills. It's also simple to generate daily, monthly, annual, or custom reports. 2. Electronic Health Records Building a high-performance digital infrastructure for your health center is possible with the help of all-encompassing and user-friendly web-based electronic medical record software. Compared to using paper records, this greatly facilitates the reduction of errors. You and the patient may ...
Read More
Unsplash Irwan iwe Nurse in lab - Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say

 

Leave a Reply

Your email address will not be published. Required fields are marked *

16 − 3 =