Facebook is reportedly looking into creating its own cryptocurrency. According to Cheddar, it would be a way for the social network's billions of users to make electronic payments on the platform, as well as outside it. There are no real details about the project; all we know is that a source who asked not to be identified told Cheddar, "They are very serious about it."

"Like many other companies Facebook is exploring ways to leverage the power of blockchain technology," Facebook said in a statement to Engadget. "This new small team will be exploring many different applications. We don't have anything further to share."