Visa and MasterCard have been leaked by an insider who spoke to “The Wall Street Journal” as facebook`s cryptocurrency partners. Although the Facebook
`s cryptocurrency has been sounding worse and worse but hopefully the new information’s coming-out in regards to this, might be helpful in giving a clear view on the direction they (Facebook) are planning for the project. An insider gave out some interesting information on the project, and also revealed that “Project Libra” is the internal name of the project at Facebook.
Moving on, the insider stated that “we already knew they we are going big with this one. Approximately 3 weeks back, it came to our notice of the huge fundraising efforts happening behind the scenes. That is also when we first heard of the $1 billion dollar price tag for the project. The insider added that Facebook will be soliciting external investment to generate the fund”.
The cryptocurrency partnership
However, it’s beginning to look like a partnership of the worst corporations merging to launch EvilCoin, but who knows, the act might strongly serve as a gateway cryptocurrency. This can be attainable, considering the fact that Facebook’s long term objectives advance beyond Facebook alone. Facebook has also been consulting with prominent online retailers and hopeful that their cryptocurrency would be accepted as a medium of payment at wide ranges of businesses.
Furthermore, if the word of the insider to the Wall Street Journal is anything to go by, it`s now obvious that Visa, MasterCard, and one other unpopular company, but processes lots of payments for the two First Data Corp, will be the companies Facebook will be relying on to source the $1 billion-dollar fund. When Facebook plan finally workout, its definitely going to be difficult for an anyone to make a generalized statement against cryptocurrency`s legitimacy when he or she has a Visa card and MasterCard in his or her bag, and probably uses a phone which has a Facebook app in it.
The outcome of the whole project might not be generally accepted by everyone gladly, but one cannot but accept it, because no one can be an anti-cryptocurrency when most of the things he or she uses especially as a means of payment proves otherwise.