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how to finally make crypto currency mainstream use it on Facebook that's the plan according to the Wall Street journal which reports that the social media giant is in talks with dozens of financial firms and online merchants to build a digital coin payment system for its site and platforms across the web unlike the volatile bit coin Facebook's digital coin would be backed by actual government currency to that end it is seeking total investments of about one billion dollars and is speaking to visa MasterCard and payments processor first data the journal reports Facebook is also talking to online merchants and apps the pitch being that those sites would get a break on processing fees collected by banks creating a new digital coined may be an uphill climb given the skepticism that still surrounds crypto currency and Facebook's privacy woes but Facebook does have over one billion users who buy stuff the plan reportedly also entails using crypto currency as a type of reward system for users who click on ads giving them the opportunity to accrue digital coins by doing so much like a loyalty points gained IT retailers a digital payment system especially one that could be used across multiple sites similar to Facebook log in credentials would further entrench Facebook into the lives of its users by reaching into their finances much like rivals apple and Amazon