In the future, WhatsApp could be much more than just a messaging and communication app. In the United States, for example, a pilot program is being tested through which users will be able to send and receive money as cryptocurrencies.
This pilot is based on Novi, a digital wallet that is owned by Meta, the company behind WhatsApp, Facebook and Instagram. The description of the official site says that Novi is “a new way to send and receive money safely and without associated costs”, which is now available within WhatsApp (on Android and iOS) and only for some users.
According to Novi, sending and receiving money with this system is as simple as writing any message within WhatsApp. Security is a very important aspect in this type of transaction, so to be able to use it you will need, first of all, an official identification document issued by the government.
Another small step in the right direction. Today, we’re starting the rollout of the @I did not see wallet in @WhatsApp in the 🇺🇸. On a personal level, this is the best farewell gift from the best team ever! pic.twitter.com/6jk4NO60wv
& mdash; David Marcus (@davidmarcus) December 8, 2021
The site also indicates that Novi includes anti-fraud and personal information protection methods. Meanwhile, the cryptocurrency to be used for these payments is called Pax Dollar, which is managed by the independent company Paxos and which works together with Meta on this project.
Pax Dollars are a particular cryptocurrency, since their value is the same as that of the US dollar. And one of the objectives of Paxos is that this value is stable and does not change in the future.
An important detail that they mention in WABetaInfo it has to do with the encryption of WhatsApp messages. In particular, that the integration of Novi within the messaging application does not change the way WhatsApp worked until now.
It is not known if WhatsApp plans to expand Novi to more users or countries in the future. For now, Novi is only available in the United States and Guatemala, although in the latter country there is no integration with WhatsApp, as users must use the digital wallet application.