The world's leading social media company Facebook is about to launch its digital currency soon. According to sources, Facebook had earlier named this digital currency as Libra, but now Facebook Cryptocurrency can be named Diem. FaceBook will launch Cryptocurrency this year. According to Facebook, this digital currency Diem will not only be used internationally, but will also give a boost to E commerce. People will be able to earn more through this digital currency. However, the price of Cryptocurrency Bitcoin is quite low at the moment and investors in Bitcoin have suffered a major setback. Read Also- Effect of Elon Musk tweet about digital currency Doge
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| Facebook may launch digital currency soon |
28 companies partner in digital currency of Facebook
Initial news was that Facebook has partnered with around 28 companies around the world, including PayPal, Uber, for digital currency. Facebook continued to be active in its digital currency launch. Facebook has also completed the legal process to bring in cryptocurrencies. Facing many criticisms in the data privacy disputes, Facebook says that it will keep all the data related to the user's bank details and payments safe.
Online transaction will be easier
Facebook says that Diem will work on blockchain technology and will be able to easily transact money. According to Facebook, a digital payment service based on blockchain technology could arrive this year. Blockchain can be used on all Facebook platforms like Messenger, WhatsApp and Instagram. Also, Facebook is claiming that the user's data in it will be safe.
Facebook can launch it in two sets. The first set will be Multi Currency Coin and the second set will be dollar-euro mix face value. Online transactions through Diem may require a nominal fee. Facebook will launch Diem in association with the Digital Currency Project group Diem Association.
Digital currency diem can have these benefits
- Transaction of money will be easy on Facebook, WhatsApp and Instagram.
- You will be able to track digital currency transactions with Facebook digital wallet app.
- No extra charge on digital currency transactions.
- There will also be a facility to buy and sell cryptocurrency Diem.
Know what is called digital currency
Digital currency is also called cryptocurrency. Actually it is a kind of virtual currency. The digital currency holder cannot touch it like rupee, dollar or any other currency. This means that Cryptocurrency cannot be printed. This currency can only be used for transactions. No government or bank of the world has control over this currency and it can be used to purchase goods or services of any kind. To know more about what is cryptocurrency click here.
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