With an eye on the financial market and in search of new ways to increase its already billionaire income, Facebook works to launch, in early 2020, its criptomoeda, the pound. Analysts say the entry of this novelty into the market can transform the social networking business that has more than 2.3 billion active users in the world. The information is from the Folha de São Paulo newspaper.
Even before it comes into operation, the company's plans for the cryptomania are under attack by US and European regulatory authorities, who dislike the idea of a Facebook incursion into yet another aspect of users' personal lives after numerous scandals of private data leaks.
Platform CEO Mark Zuckerberg says that most of the company's revenue comes from advertising, however, he is eyeing a market that is still under-exploited and sensitive in terms of privacy: private messaging. Currently, more than 1.5 billion people use the services of Messenger and WhatsApp, but the social network claims not to bill much with them.
Last week, when the pound launch plan was unveiled, the company announced that it would include new digital payment services in those applications, so users could use cryptomoeda to send money to friends and businesses around the world. With the rollout, WhatsApp and Messenger would become new pay-and-trade poles that would receive commissions on cross-transaction transactions, said Mark May, an analyst at Citigroup - one of the world's largest financial service companies - article called "The Facebook Way to Print Even More Money".
To date, Facebook and its new subsidiary Calibra, which is creating digital payment systems, describe its crypto-currency as a way for people to send money to friends in other countries. David Marcus, who heads the pound project on Facebook, told US economic news website Bloomberg News that the company does not plan to charge commission when users send money to friends and will likely charge "very modest transaction fees" in case payments to companies.
In addition to profiteering e-commerce, Facebook would become even more attractive to advertisers, since if people have pounds in their accounts, when they are reading the news feed, they will have the process of buying a product made easy on the when they click on an ad.