As we have already mentioned in one of the articles of ours, sources close to Facebook confirm the fact that the company is developing its own digital coin for peer-to-peer payments in social media apps that belong to Facebook.
The evidence is hard to debate. People, working on the project, are leaking information, Facebook was reportedly negotiating and consulting major cryptocurrency exchanges.
Now it is getting more and more obvious that this is not just gossiping, given the fact that large firms are already making assumptions on what impact the future cryptocurrency might possibly have.
The estimates of Barclays
Ross Sandler, the analyst of Barclays, one of the largest British banks, made a rather daring statement. He claimed that the new cryptocurrency Facebook Coin is going to bring the social media giant almost 20 billion dollars in the course of two years.
Furthermore, according to him, the launch of the coin itself will increase the revenue of the company by 3 billion dollars.
“Merely establishing this revenue stream starts to change the story for Facebook shares in our view,” Sandler told CNBC.
The analyst believes that Facebook needs to find sources of revenue others from advertising, since ads strongly depend on personal information of the users, which some of them don’t really want to disclose. Offering a cross-border feature instead is most likely going to attract more users and more investors.
Sandler also pointed out the fact that Facebook might face some hardship with its crypto, namely the abundance of digital payment methods and transaction technologies on the market creates competition. Also, the social media giant was involved in a couple of scandals which might have undermined the trust of users.
The representatives of Facebook have not made any official comments on the matter yet, although it seems that the announcement will come out pretty soon.
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