Facecoin Can Replace US Dollars – Ted Livingston, Founder and CEO of Messaging Platform Kik

At the end of last year, Facebook, the social network giant who has taken up the crypto market, seems to compete not only with Bitcoin. As Ted Livingston, CEO of the Kik messaging platform, says, the US dollar will be replaced by Facebook’s stablecoin. Ted Livingston, CEO of the popular Kik messaging app, said that the token in which they work is super worthwhile.

Livingston also says that the forthcoming project will be more like the Chinese message app WeChat and Facebook are trying to attract the US dollar to a private online payment system.

The new Facebook coin will be fiat stablecoin according to internal sources. It is noteworthy that its value is tied to three national currencies, rather than just one. It is also known that cryptocurrency payments are likely to be incorporated into its messaging services.

This includes three wholly owned applications on Facebook which includes WhatsApp, Messenger, and Instagram. So Facebook’s new cryptocurrency allows more than 2,7 billion users to profit.

Once Facebook news had been published, crypto experts had already started to predict what they would expect in the next launch.

According to Cheddar, since the company already has massive capital, Facebook has no interest at all in offering an initial coin. The way in which the cryptocurrency is initially distributed and the airdrop distribution model may be modified is unknown.

The user base on Facebook is gigantic, with over two billion users on this platform. For instance, Telegram hopes that its 200 million user base will facilitate the adoption of its forthcoming cryptocurrency and have raised an enormous $ 1.7 billion in two private – sector token sales. It is reported that Telegram has abandoned any public ICO plans.

Ted Livingston, a well know forecast leader, has made a few conjectures based on previous Facebook activities and messaging and cryptography experiences. In a blog post, Livingston described how the Facebook coin could replace the US dollar as the world reserve currency.

Ted Livingston said,

“WeChat allowed people to take out their money at any time, but they also added more and more reasons to keep people inside: paying hydro bills, buying food, booking holidays, and more. Soon, nobody took out their money.”

The cryptoanalyst also said Facebook is about to have all the pieces needed to run the WeChat playbook in three stages. These steps are the urgent need to move money and keep money within the system.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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