Facebook May Be Looking to Replicate a Major Feature from One of China's Top Apps
"Facebook recently announced that it would build more ways for people to interact through its platforms. As an extension of this ambition, Facebook is reportedly developing its own digital currency, known as the Facebook Coin, which allows users to transfer money through WhatsApp. However, the view from experts is pessimistic because Facebook does not have necessary business infrastructure. In addition, Facebook Coin seems to have a disadvantage as the company still has a hangover of mistrust emanating out of the allegations against the company over the last few years. This move is indicative of the popularization of blockchain. Another important point to determine Facebook’s success is that it will have to pull iPhone users away from iMessage to achieve the goal of building a whole suite of messaging-based services that would compete with popular iOS apps. Interestingly that goal puts Facebook, for the first time, in direct competition with Apple." - Liz Lee
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Mar 19, 2019
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Liz Lee
Liz, an Associate Director at Counterpoint Research, has 14+ years of extensive experience in the tech industry. Previously, Liz worked for Samsung SDI focusing on IR (Investor Relations) along with insight-based analysis of emerging tech markets and corporate strategies. She holds an International MBA degree from Waseda Business School.
