Facebook could be on the path to replace the US Dollar with its own crypto asset as a global currency, claims Ted Livingston.
The founder and chief executive of the Kik messaging app projected the upcoming stablecoin project as a WeChat aspirant. The 32 years old Canadian entrepreneur wrote that, like the Chinese messenger app, Facebook was attempting to move the US Dollar into a private online payment system. Such a system would not only make it easier for people to transfer money cheaply. But, it would give them reasons to keep their money inside the messenger system. He wrote: