Facebook Financial: A New Approach to Digital Technology
In this opportunity, Facebook gives us new ways to enter this world of digital technology. And so, comes the Facebook Financial project, from the hand of David Marcus, in charge of this new initiative.
Without a doubt, the interconnection between digital technology has been one of the most important technological advances of the last decade. And Facebook experts have been in charge of orchestrating such achievements.
So, here comes the Facebook Financial project, which aims to further extend the catalogue of possibilities that Facebook offers its users.
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David Marcus in charge of Facebook Financial
David Marcus, better known as the co-creator and board member of Libra, a crypto currency scheme initiated by Facebook. He will now be the leader of this new Facebook project: Facebook Financial.
This idea has as its focus the execution of all the company’s payment plans, including Facebook Pay. This is the company’s universal payments feature that it plans to deploy within all its applications.
In this way, the new Facebook Financial project comes with the aim of making all applications and interconnected platforms of Facebook, work as a single “market place” platform.
This is the latest step in an enterprise-wide effort to bring Facebook’s individual products and applications closer together.
“It seems to be the right thing to do in order to organize the business strategy in all matters related to payments,” explained Marcus. He also believes that if users can make purchases on Instagram, Messenger and WhatsApp, Facebook advertising will be more valuable.
David Marcus explains the need for Libra to see the light
The future of Novi and the Libra on Facebook
And while the new Facebook Financial project promises to get all the attention, Marcus will continue to run Novi, formerly called Calibra.
Which, is the division that is developing a digital wallet that will contain the Libra crypt currency, as specified in its tweet.
Marcus has focused clearly on getting the Libra plan off the ground as a cryptomoney for cross-border payments. That has required negotiations with financial companies and the expertise could help with other Facebook payments initiatives.
“It is useful to have specific expertise in financial services regulation. So that we can develop things in the right way from the beginning,” Marcus explained, giving a clear signal to the lack of regulation by financial institutions for these platforms.
His clear approach to the libra project allows his new work with the Facebook Financial project to be put on the right track. The goal is to get the company to work as a cross-border platform.
Facebook is one of those companies that are not afraid to create trends, and so comes the new Facebook Financial project. That is just a mouthpiece to the whole plan of new technologies that Facebook has planned for the future.