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In an extraordinary claim made by Ted Livingston, Founder and CEO of KIK, Facebook may have set their sights on replacing the US Dollar.

There has been a lot of hype around Stablecoins of late, with many praising them as potentially eliminating aspects of risk involved in crypto investments. However, this latest claim could be the biggest one yet.

In a blog posted last week, Livingston, who runs operations at the messaging app KIK, cited his belief that Mark Zuckerberg may have more than just entering the crypto market with his Facebook Coin on his mind. He might be attempting to replace the dollar altogether.

New Directions for Facebook

His belief stems from the fact that Zuckerberg recently posted a blog post stating the danger to his business from people losing faith in open sharing. Facebook’s key USP. As such, they may be looking to branch out into new enterprises and the launch of the new, what Livingston calls, “FaceCoin”, might be just the thing to do it.

With crypto becoming so more accepted and even welcomed worldwide, there may a case for that to be true. This duelled with a comparison to Livingston’s own service and how they view the future of their business, further give weight to the possibility that Zuckerberg is thinking the same way.

The WeChat Model

He goes on to support his views with the knowledge he has about the Coin thus far. Stablecoin powered payments which will first be launched on WhatsApp in India.

As he points out, this is one of the largest areas of remittance making in the world and targeting this option first and giving them the chance to transfer Facebook Coin via WhatsApp first is an important first step. It will allow them to gain an insight into a large sample whether people will adapt to FaceCoin transfers as opposed to dollars. Facebook can then proceed from there.

He references a similar business model to WeChat replacing cash in China as an example, where it has previously proven very successful. This, combined with the massive worldwide reach of Facebook, Whatsapp and Instagram combined that people use every day, implement FaceCoin on all these service sand it could very much be a triple threat that could appeal to numerous nations.

It’s a big reach and I wouldn’t hold your breath, but he certainly holds valid points.

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