It seems that Facebook plans to compete with the Ripple in the field of cross-border payments. The giant social networking explores the possibilities of creating their own cryptocurrency, which will allow billions of users of social networks the opportunity to use this cryptocurrency for seamless cross-border transactions and calculations.

Ripple and other cryptocurrencies that are working hard to create more convenient for users the options of cross-border transfer, will soon get some serious competition from Facebook.

The employee of Facebook, who wanted to remain anonymous, said that “Facebook is very serious about this plan.”

Another Executive Director of Facebook said that Facebook may need to make “acquisitions in the field of blockchain and cryptocurrency to design their own virtual currency.”

Developments in the field of blockchain started at the beginning of this year, when Facebook CEO mark Zuckerberg announced that he recognized cryptocurrency that is taking the money power from the centralized system and returns it in the hands of the people.

– Risk (cryptocurrency) more difficult to control. I find it interesting to delve deeper and to explore the positive and negative aspects of these technologies and how best to use them in our services – said Zuckerberg.

And most recently, a statement about plans for the blockchain announced the head of Messenger and former PayPal President, and a member of the Board of Directors Coinbase David Marcus, who four years working at Facebook.

– After almost four incredible years of leadership Messanger, I decided that it was time for me to take on this new challenge. I create a small group to explore how best to use the blockchain in Facebook said Marcus in a Facebook message.

Now Marcus will lead the team Facebook, studying the technology of the blockchain. He knows a lot about the cryptocurrency because it was one of the early investors in bitcoin, and in December 2017, he, as already mentioned, a member of the Board of Directors in Coinbase.

It is worth noting that shortly after Zuckerberg unveiled plans for the year, Facebook banned advertising of crypto-currencies and blockchain-companies under the pretext that the platform is working on the safety of users who may be deceived by a fake ICO companies.

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