Facebook will likely also expand the way users can use its platform to pay for things, said Justin Brookman, director of consumer privacy and technology policy for Consumer Reports. Zuckerberg didn’t mention any new payment plans specifically but did bring up payments four times in his post.
Currently Facebook lets its users pay friends or businesses digitally by linking a credit card or PayPal account and that’s method is not likely to change anytime soon. But as Facebook looks to emulate Chinese behemoth WeChat, it could let you reserve a table through Facebook instead of going through an outside app, or order an Uber.
“Ideally Facebook will try to get a cut of all transactions,” Brookman said. A digital currency of Facebook’s own is also rumored to be in the works.
“Like many other companies Facebook is exploring ways to leverage the power of blockchain technology,” Facebook said in a statement. “This new small team is exploring many different applications. We don’t have anything further to share.”