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Facebook Plans To Shut Down Virtual Hangout App “Bonefire”

"In May, we'll be ending support for the Bonfire tests. We'll incorporate elements of what we learned into other current and future products," Facebook said in a statement.

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The main app "Houseparty" is a synchronous Group video chat in which participants would open it up to see who else was already online and hang out with them online. Pixabay

Facebook has decided to shut down a clone of the main Group video chat app called “Houseparty”, which is a virtual hangout for its users in a group.

According to The Verge on Friday, the clone app called “Bonfire” which Facebook began testing in 2017, will stop working this month.

“In May, we’ll be ending support for the Bonfire tests. We’ll incorporate elements of what we learned into other current and future products,” Facebook said in a statement.

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Facebook has been adding Group video chat features to its other platforms like Instagram and Messenger. Pixabay

The app began testing in Denmark in the fall of 2017.

The main app “Houseparty” is a synchronous Group video chat in which participants would open it up to see who else was already online and hang out with them online.

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Facebook has been adding Group video chat features to its other platforms like Instagram and Messenger. (IANS)

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Facebook to Launch its Cryptocurrency Next Year: Report

According to Zuckerberg, Blockchain could give users more powers when granting data access to third-party apps

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A television photographer shoots the sign outside of Facebook headquarters in Menlo Park, Calif. VOA

Facebook, which owns WhatsApp and Instagram, is gearing up to launch its own cryptocurrency next year, the BBC reported on Friday.

Called “GlobalCoin,” the cryptocurrency would work with a new digital payments system in about a dozen countries starting in the first quarter of 2020.

Facebook has been in contact with US and British financial regulators to launch it.

According to the BBC, Facebook is in touch with “Bank of England governor Mark Carney and officials at the US Treasury”.

With over two billion users across its platforms, Facebook could emulate WeChat in China which allows its users to chat, shop and play games without leaving its platform.

The Facebook cryptocurrency would need to overcome numerous technical and regulatory hurdles before it can be launched.

According to media reports, the Facebook currency could be designed to be a “stablecoin” with a value pegged to US currency in an attempt to minimize volatility.

A report last week said Facebook has reportedly set up a company called Libra Networks in Switzerland that is developing payments and Blockchain systems for the social networking giant.

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Bitcoin is a cryptocurrency and worldwide payment system. Wikimedia Commons

According to a report in CNET quoting Swiss publication Handelszeitung, the Facebook cyrptocurrency would be tied to the US dollar and could, therefore, remain stable unlike Bitcoin which has crashed.

“Facebook set up Libra Networks in Geneva several weeks ago. Libra is the social network’s internal project name for the digital currency,” the report said.

The Swiss company would focus on developing the software and hardware for currency-related functions like payments, Blockchain, analytics, big data and identity management.

Facebook declined to comment on the new report.

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According to a report in The Wall Street Journal earlier this month, the social media giant is “recruiting dozens of financial firms and online merchants” towards its cryptocurrency-based system that would use a digital coin similar to Bitcoin.

The New York Times reported in February that Facebook had a team of 50 people working on its virtual currency project.

In a public interview with Harvard Law professor Jonathan Zittrain in February, Facebook CEO Mark Zuckerberg said he is “potentially interested” in putting the Facebook login on the Blockchain technology.

According to Zuckerberg, Blockchain could give users more powers when granting data access to third-party apps. (IANS)