Ripple’s Asheesh Birla Explains How Blockchain Can “Save” Facebook – Potential Ripple-Facebook Collaboration In The Cards?
Ripple’s senior vice president of product, Asheesh Birla has recently addressed a really interesting issue.
He talked about how Facebook can use the blockchain technology in order to take the friction out of payments for mobile consumers.
Facebook is reportedly developing a super app
According to him, Facebook is working to build the next thing that he called a super app.
The social media giant is reportedly using a blockchain-based payment service in order to help customers load funds into the new app for e-commerce payments and also in-app payments, the Daily Hodl reported.
“But here’s where Facebook, by leveraging blockchain infrastructure and crypto exchanges, may have an added advantage. The company can activate its already massive user base in the region and solve the same last-mile payments problem by partnering with regional crypto exchanges as on and off ramps to the Facebook super app,” Birla said.
He continued and explained that tapping into the blockchain and crypto tech in this way could boost Facebook in emerging markets and more.
He said that this could lead to a huge change for Facebook and it could be reinvented.
You can read his complete ideas and theories on the official post.
— Ripple (@Ripple) April 26, 2019
After seeing the tweets and posts, Ripple enthusiasts are hoping that a partnership with Facebook is in the cards.
Facebook, to launch a stablecoin
In other news, we’ve been also reporting that Facebook is gearing up to launch its very own stablecoin.
The latest reports claim that Facebook is looking for VC companies to invest in its crypto projects and the plans are to raise $1 billion, says NY Times reporter Nathaniel Popper.
The company is allegedly working on a stablecoin for WhatsApp using a basket of foreign currencies as collateral, according to CryptoSlate.
At the beginning of the month, Popper posted a few tweets about the subject and updated crypto enthusiasts on Facebook’s crypto-related plans. The company hasn’t been saying much about these.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.