Facebook's New-Born Technology Company Is Blockchain-Oriented

Blockchain is now a rising star in the world. It is absolutely powerful, but hard to play with. Every technology company in the world decides to stay focus on it, especially in the fintech industry. Facebook, obviously, can’t stay out of the way. 

The newest Fintech company owned by the company behind the world's largest social network in Switzerland did pronounce their statement to stick its technology’s strategy to the blockchain. In detail, the company will use this technology in solving such issues like investing, payments, financing, identity management, analytics, big data, blockchain, and other technologies.

On May 2, in Geneva - Switzerland, Libra Networks LLC successfully registered and was listed as part of the Facebook Global Holdings. The company aims to provide fintech solutions as well as necessary components (in both hardware and software).

Facebook is now considered as the biggest social network with over 2 billion users in over the world. Other social-well-recognized companies which lie under Facebook’s control - such as WhatsApp, Messenger, and Instagram, also have a network of more than a billion followers. Facebook is now, really make itself as the center of the virtual world with billions of personal profiles on its hands. The question is that is it possible to have a misuse over the information?  

In fact, according to a report from the Wall Street Journal,  Mark Zuckerberg - Facebook CEO did receive an open letter from The U.S. Senate Banking Committee questioning the legal issue of its new cryptocurrency-based payments system related, as well as asking about consumer protection policy.

It seems to be a hard question to answer for CEO Zuckerberg, however, we are all counted on him and his Facebook a lot. Hopefully, he and his new financial technology in Switzerland will give us a nice story to follow, or to debate later!