Facebook will reportedly announce cryptocurrency this month, allowing employees to take it as salary
Facebook will announce its cryptocurrency later this month, and will allow employees working on the project to take their salary in the form of the new currency, according to a report in The Information.
The report adds that Facebook is also planning physical ATM-like machines where users can buy the currency.
The report says Facebook is soliciting third-party organizations to act as "nodes" to help manage the cryptocurrency, and has discussed charging $10 million for the privilege.
Cryptocurrency nodes contain the computing power necessary to resolve complicated mathematical equations, which are used to validate transactions.