Facebook to charge $10M per license to retain watch over its cryptocurrency community, document says – CNET
Facebook is reportedly planning to charge companies $10 million each to feature the nodes on its future cryptocurrency community.
The social community may well presumably well well also very well belaunching its private Facebook cryptocurrency as early as 2020.
An just foundation would space up the community on the encourage of the payments. Facebook is aiming to begin the community with 100 nodes, in accordance to a Wednesday document in The Knowledge (via The Block).
Per node, the license to feature would reportedly be $10 million, which would indicate Facebook pocketing $1 billion.
The document acknowledged Facebook has already contacted several tech companies and financial institutions to device capital for the muse and encourage space up the community.
Facebook would moreover like to begin physical ATMs for its cryptocurrency, The Knowledge acknowledged.
Thesocial networking giant space up a firm in Switzerland to point of curiosity on paymentsand blockchain, the technology powering cryptocurrencies like bitcoin, in accordance to stories closing month.
A Facebook cyrptocurrency may well presumably well well be tied to the US greenback, Swiss publication Handelszeitung acknowledged, and may well presumably well well also due to the this truth reside receive, unlike bitcoin, which started crashing encourage in 2017.
Facebook declined to comment.