Facebook plans to generate $$10m in revenue by charging companies 1bn to gain operating licenses for the nodes on its planned cryptocurrency network. The service is expected to launch as early as 2020 with Facebook reportedly aiming to offer 100 nodes initially. The network behind the payments will be managed by an independent foundation, with Facebook reportedly in talks with tech firms and financial institutions to oversee the network and provide funding for the project.
Facebook plans to generate $1bn in revenue by charging companies $10m to gain operating licenses for the nodes on its planned cryptocurrency network. The service is expected to launch as early as 2020 with Facebook reportedly aiming to offer 100 nodes initially. The network behind the payments will be managed by an independent foundation, with Facebook reportedly in talks with tech firms and financial institutions to oversee the network and provide funding for the project.