Ripple’s senior vice president of product Asheesh Birla has recently discussed a really interesting matter.
He addressed more issues involving Facebook and how the social media giant could be using the blockchain tech in order to take the friction out of payments for mobile consumers.
Facebook is working on a “super app”
Birla said that Facebook is working on a super application. It seems that Facebook could be using a blockchain-based payment service that will help customers load funds into the new app for e-commerce payments and in-app payments, according to the Daily Hodl.
“But here’s where Facebook, by leveraging blockchain infrastructure and crypto exchanges, may have an added advantage. The company can activate its already massive user base in the region and solve the same last-mile payments problem by partnering with regional crypto exchanges as on and off ramps to the Facebook super app,” Birla said.
He also explained that tapping into the blockchain and crypto tech could boost the social media giant more in the emerging markets.
SVP of Product @ashgoblue explores how @Facebook could compete with Asian #SuperApps by using #blockchain to take the friction out of payments. https://t.co/8fRQxdfRrP via @hackernoon
— Ripple (@Ripple) April 26, 2019
Birla believes that all of this could basically help to reinvent Facebook.
As expected, after reading Birla’s post the XRP army of fans and the Ripple enthusiasts have quickly jumped to the conclusion that there’s definitely a partnership in the cards for Ripple and Facebook.
Facebook to create its own stablecoin
According to the latest reports, Facebook is currently looking for VC companies to invest in the crypto project and the social media giant’s plans are to raise $1 billion, according to Nathaniel Popper, a NY Times reporter.
Facebook is said to be working on a stablecoin for WhatsApp using a basket of foreign currencies as collateral.
It seems that Bitcoin bull Tim Draper might also become one of the investors in Facebook’s project.
He will reportedly meet with the social media giant in order to discuss an investment in the new crypto project that’s currently in the works.
