Reports suggest Facebook is in the process of developing its own cryptocurrency, with plans to launch in as many as a dozen countries as early as Q1 2020.

The cryptocurrency could be unveiled to the world by the end of the year, with plans to kick off operations during the first quarter of 2020.

It would appear this is one of the more radical ideas from Facebook to differentiate its business, removing the dependency on the increasingly under-fire data sharing economy.

While the idea of virtual currencies is not particularly new, real-world applications will escape the imaginations of most.

In this example, Facebook may want to move towards a more dominant position in the digital economy, enabling purchases through its various different products.

Cryptocurrency will become an important facet of this process, firstly to encourage people to purchase through the products instead of going directly to the advertiser, and secondly, allowing people without bank accounts to engage in eCommerce.

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