Facebook may launch its new digital currency in the coming weeks

Reports that Facebook will launch a new digital currency within the next few weeks in a project known within the company as Libra. Leaks currently available say that the initial release of the new currency will take place on the date mentioned so that employees of the American company to get their salaries as digital currencies instead of traditional funds to be a global launch early next year.

The move comes as part of Facebook's plan to expand the company's business activities, which began during the F8 conference, which saw the announcement of the availability of purchasing services within the company's various applications. As announced at the F8 conference, Instagram users will be able to shop directly from within the application, while companies will be able to provide their catalogs via WhatsApp, as well as direct shipping from within the Facebook application within the United States.

Unlike the company's applications, which will support payment using the digital currency, Facebook aims to spread its currency in developing countries that are fluctuating in the value of their local currency. It is not going to stop there. The US company is also aiming to reach out to several governments to codify its new currency. Some countries criminalize mining and using digital currencies. It also seeks to partner with large financial and marketing institutions to spread its currency faster and gain user confidence.

Currently, according to the leaks, the Facebook administration, especially Mark Zuckerberg, puts that project as an important priority in the company's plan for next year. Will Facebook succeed in spreading its new digital flag? Does Bitcoin ever compete?