It is reported that Facebook, Telegram and Signal plan to release their own digital coins for their platform. But their centralized nature means that they will not be censored, decentralized and protected in their design, unlike Bitcoin.
Facebook, Telegram and Signal are planning to deploy new cryptocurrencies over the next year, designed to allow users to send money to contacts in their messaging systems, such as Venmo or PayPal, that can move across international borders.
For this purpose, for example, Facebook has recently attracted experts from the blockchain, including the technical manager of Blockchain Marketplace Payments. Facebook's plans to enter a digital coin designed for billions of active WhatsApp users may be close to completion.
In addition, Telegram is developing a cryptocurrency for use by more than 200 million active users. Another privacy-oriented messaging application is also developing a digital coin called MobileCoin.
New tokens will be "independent of some degree." However, these companies are working on digital coins that may exist in a decentralized network of computers, no matter which companies created them. Cryptocurrencies under the control of the companies that created them cannot compare with bitcoins , which no one controls.
This means that Facecoin will never achieve complete independence from any government, company or financial service provider. Nor will they have an anonymous creator. Digital tokens issued by any company will be centrally planned. Their offer will not be strictly limited, and they will not be open, neutral currency systems.