According to the report, Facebook may plan to develop what is known as a “stablecoin“, which is a form of crypto-currency linked to the US dollar. The idea behind this is that it will help minimize any instability commonly associated with crypto-values, such as Bitcoin, which has been known for great fluctuations.
Facebook still does not officially acknowledge that this is something they are working on, but a company spokesman confirmed that Facebook is exploring ways to use blockchain technology.
“Like many other companies, Facebook is exploring ways to boost the power of blockchain technology. This new team is reviewing many different applications. We have nothing to share further. “