Over the past few months, it appeared that Telegram has been comfortably leading the clandestine race between major social platforms that have been quietly working on their native crypto tokens, with its Telegram Open Network (TON) making strides toward its October 2019 launch deadline. The latest avalanche of news from Facebook (NASDAQ:FB), however, makes this lead look less convincing, as it becomes apparent that the social media giant’s blockchain project is also well underway.
After a series of indirect cues suggesting that Facebook’s long-rumored fintech initiative is in motion, a massive breakthrough came with a detailed report from The Information, which mainly relied on anonymous sources to unearth many newsworthy particulars related to the forthcoming token. A European Facebook executive validated some of the details shortly after, confirming that a white paper outlining the cryptocurrency’s essentials is set to be published on June 18. Here is what we know of the future coin’s design and governance, as well as its potential implications for the digital economy, according to some leading voices in the crypto space.
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