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Facebook hiring fast to launch its own bitcoin: Report

IANS  |  San Francisco 

is working hard to launch its own for cryptocurrency-based payments on its platform that has 2.38 billion users.

According to a report in on Friday, the is "recruiting dozens of financial firms and online merchants" towards this goal.

The cryptocurrency-based system would use a digital coin similar to

Facebook, on its part, has said it is exploring ways to leverage the power of

In a February interview with Law Professor Jonathan Zittrain, said he was "potentially interested" in putting the login on the

"I'm thinking about going back to decentralised or Blockchain authentication. Although I haven't figured out a way to make this work out but this is around authentication and basically granting access to your information and to different services," Zuckerberg told Zittrain.

According to him, Blockchain could give users more powers when granting data access to third-party apps.

Facebook last year promoted one of its senior engineers as the

It has set up a group within the company to explore and its potential use for the platform, headed by

--IANS

na/ksk

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, May 04 2019. 09:04 IST
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