Uber, payments firms reportedly sign on to back Facebook’s blockchain project

Uber, PayPal, Visa and Mastercard have committed to support Facebook’s upcoming blockchain project, according to a Wall Street Journal report on Thursday.

Facebook has already signed up more than a dozen companies to support its blockchain effort, according to the Thursday report. The companies will invest approximately $10 million into a consortium that will govern Facebook’s cryptocurrency effort.

That project will reportedly be unveiled as soon as next week. Multiple reports in recent months have said Facebook is putting together a cryptocurrency tied to the value of government-issued currencies.

The companies did not immediately respond to requests for comment.

Read the full report at the Wall Street Journal.

WATCH: Here’s how to see which apps have access to your Facebook data — and cut them off

Free America Network Articles

Leave a Comment