The company's crypto project could generate between $3 billion and $19 billion in additional revenue by 2021, CNBC reported yesterday referring to a note by Barclays analyst Ross Sandler. According to Sandler, Facebook must "demonstrate a competitive advantage in the context of current payment capabilities. Sandler also stressed that the social network must regain the users' confidence since its reputation has been affected by the numerous scandals it was involved in last year.
Sandler also highlighted the fact that, although there is very little information available about Facebook Coin, the company has a wide experience in this field:
"The original Facebook Credits project, which was developed between 2010 and 2012, was similar to what cryptocurrencies are today. However, the scale of the current project is much larger, especially considering it is led by former PayPal CEO David Marcus."
$39.9 billion out of Facebook's $40.6 billion revenue generated in 2017 came from advertising.
In February it was reported that Facebook was in talks with several important crypto exchanges about the possible listing of its new crypto assets.