# Professor David Yermack explains potential business implications stemming from Facebook's development of its own cryptocurrency

1 Faculty News May 6, 2019 ![MarketWatch logo](/sites/default/files/styles/246w/public/assets/images/marketwatch%20logo.jpg?itok=pHUVfozf)>

Excerpt from [MarketWatch](https://www.marketplace.org/2019/05/06/business/facebook-reportedly-developing-its-own-cryptocurrency-wsj) -- "'If you think about how many people are citizens of Facebook-land, there's 2.5 billion people and they could really become a serious rival to the federal reserve.'"

[Read more](https://www.marketplace.org/2019/05/06/business/facebook-reportedly-developing-its-own-cryptocurrency-wsj)