With the news that Facebook is getting closer to launching its “GlobalCoin” cryptocurrency, I wanted to take a quick historical dive into Facebook’s previous major foray into digital currencies: Credits.
In January 2011, Facebook officially launched Credits as a way to simplify payments on its platform. Credits enabled users to purchase items on applications built on Facebook. At that time $1 was equivalent to 10 Credits, with Credits purchasable in 15 different currencies.
Credits made sense for Facebook. The social media giant was looking at how much Apple and Google were making off their iOS and Google Play stores and wanted a piece of that for themselves.
Join Genesis now and continue reading, The story of Facebook’s first digital currency!
source https://www.tokentalk.co/The Block/the-story-of-facebooks-first-digital-currency-5cf032812f9352851246b545
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