Biggest Bitcoin competitor is on the way, He is none other than Mark Zuckerberg

Now coming to the latest news, Facebook is already revealed that they are working on a cryptocurrency to give competition to the Bitcoin. The new cryptocurrency made by Facebook is soon starting working with WhatsApp to send and receive payments.

Facebook has received the growth of 9% year by year and has two billion active users across Facebook, Instagram, Messenger, and WhatsApp. He also wrote a note to the users to clear things about privacy policies.

He said

My focus for the last couple of years has been understanding and addressing the biggest challenges facing Facebook. This means taking positions on important issues concerning the future of the internet. In this note, I’ll outline our vision and principles around building a privacy-focused messaging and social networking platform. There’s a lot to do here, and we’re committed to working openly and consulting with experts across society as we develop this.

He wants to make WhatsApp as a center point to make its new cryptocurrency transactions. Mark has clearly mentioned how WhatsApp end-to-end encryption working without any issues and it could be the next big thing to connect the world.

Facebook has received some negative experience in Bitcoin by their scam ads related to Bitcoin. Some scammers used Facebook to attract people to buying Bitcoin-related schemes. This has happened when the Bitcoin has gained price up during the year 2017 to 2018. Before making the strict policies, Facebook allowed advertisers freely to promote their cryptocurrency products and services. Later the Facebook discontinued and prohibited cryptocurrency trading options and initial coin offerings by the companies.

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