Facebook to Announce Cryptocurrency Project This Month
Social media giant Facebook will reportedly announce its cryptocurrency project this month, allowing employees to take part of their salary in the coin, CNBC reports on June 5.
Citing a report by The Information, CNBC states that Facebook furthermore plans to cede control of the cryptocurrency to outside parties in order to ensure that the digital asset will not be completely centralized.
Third-party organizations will purportedly pay as much as $10 million dollars for the opportunity to act as a node — to validate transactions — on the network for Facebook’s native token.
