Facebook Will Soon Issue Its Own Cryptocurrency 120

Facebook Will Soon Issue Its Own Cryptocurrency

According to the American television channel Cheddar, the plans of the global company Facebook include the release of its own digital coin.

Based on this information, the main purpose of the cryptocurrency will be its use as a means of purchasing goods and services within the platform.

“I’m told that payments specifically is a very serious avenue that they want to look into for blockchain,” said Alex Heath, the journalist of Cheddar.

The development of this idea has already been started by the Facebook vice president David Marcus, who previously served as the president of PayPal. At the moment he is the head of a new division of Facebook, which is engaged in the development and implementation of solutions for blockchain technology inside the company.

At the same time, Marcus made a statement this February that Facebook would not have any affairs with the system of payments in cryptocurrency, at least in the nearest future. The reason for this statement was the unstable state of cryptocurrencies, as well as the problems that caused many of its users to suffer and high commissions for carrying out transactions that had a low speed.

We remind you that previously a venture capital investor of the sector and the former CEO of Facebook Chamath Palihapitiya disagreed with the opinion of Warren Buffett regarding the world’s first cryptocurrency.

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The Japanese bank MUFG Will Launch Its Own Cryptocurrency 160

The Japanese bank MUFG Will Launch Its Own Cryptocurrency

After loud statements by Buffett and Gates concerning cryptocurrency, it seemed that at least the state institutions of countries would refuse from it, but a Japanese bank Mitsubishi UFJ Financial Group still decided to acquire its own cryptocurrency, MUFG Coin, in 2019.

“Regarding the speculation (in) media reports, these reports are not based on any announcement by MUFG, and the details have not been decided,” the bank’s spokesman said in an emailed statement to Reuters. “However we can only say that it’s true that MUFG is conducting demonstration experiments on the ‘Coin’ within the company utilizing a blockchain technology.”

According to NHK Japan, the digital currency MUFG Coin will be tested for suitability in several regions of the country. 100,000 people who are associated with the company will be able to participate.

Representatives of the bank will provide an opportunity for users to use the cryptocurrency as a means to pay for goods and services in shops and institutions. The bank’s digital currency can be transferred to the accounts of those who participate in the project. If the idea is successful, then MUFG will be the first Japanese bank that has its own digital currency.

The MUFG coin can be used exclusively in Japan. In the world market it can be traded in pairs at non-financial currency exchanges instead of USTD (Tether cryptocurrency, tied to the dollar).

Those people who have downloaded and installed an application that automatically converts deposits into MUFG Coin will be able to take part in the test of the new currency. The cost of one coin is equal to one yen.

We remind you that the management of Mitsubishi UFJ Financial Group announced its intention to launch a  cryptocurrency exchange with the national currency, as well as a service with split Bitcoin-accounts.

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Cryptocurrency Advertising Was Banned on the Bing Search Engine 71

Cryptocurrency Advertising Was Banned on the Bing Search Engine

According to Investing, the search engine Bing, which belongs to the largest corporation Microsoft, will no longer display ads on cryptocurrencies, blockchain technology and products related to digital currency.

“Because cryptocurrency and related products are not regulated, we have found them to present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviors, or otherwise scam consumers.” wrote Melissa Alsoszatai-Petheo, a Bing advertiser policy manager, in the announcement. “To help protect our users from this risk, we have made the decision to disallow advertising.”

The updated policy on financial products and services will go into effect worldwide in June, and the enforcement will begin in late June or early July. Although Bing is not the most popular search engine, but the market of cryptocurrencies reacted to the news with a fall.

We remind you that earlier such global media, as Facebook, TwitterGoogle and YouTube refused to display ads of cryptocurrencies.

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