Will Facebook's new cryptocurrency be built on Zilliqa?

23 Dec, 2018 | Updated: 23 Dec, 2018
by Will Heasman
Will Facebook's new cryptocurrency be built on Zilliqa?

Since Facebook announced their cryptocurrency stablecoin project there has been much speculation over the finer details of the venture... 

As this speculation takes hold, rumors have arisen that assert Facebook’s new crypto project may be built upon the blockchain platform, Ziqilla (ZIL). 

Self proclaimed blockchain and crypto enthusiast Oliver Bell tweeted out his ideas on this speculation, tying some critical points together:

Bell points out that Facebook and Ziliqa have a shared partnership with Mindshare a media marketing company. Furthermore prominent blockchain engineer, Evan Cheng, sits as an advisor for both companies. On top of this, David Markus who formerly sat on the Coinbase board, excused himself, citing a conflict of interests; given that ZIL recently got listed on Coinbase pro this adds further cause for speculation.

Some seemed to jump on the bandwagon:

Others were just hopeful:

However, this remains pure speculation and aside from some slightly tentative coincidences, there isn't much to back up these rumors.

Facebook's new cryptocurrency venture was speculated upon for months before rumors were finally confirmed. Bloomberg reported that Facebook was developing a stablecoin, designed to be used in the popular messaging app WhatsApp. The stablecoin will apparently focus on remittances in India enabling those in the country to send money all around the world and vice versa.

Read more: Why Facebook is the most important crypto company according to Anthony Pompliano; The rumors are true! Facebook launching its own cryptocurrency

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