Regarding Facebook’s cryptocurrency

If Bloomberg and the New York Times are to be believed, later this year Facebook will introduce a cryptocurrency which will allow WhatsApp users to send money instantly. Yes, that’s right: Facebook. Cryptocurrency. Earthquake! Revolution! The world is tilting on its axis! The end times are cometh!
Except – um – what exactly are people going to do with FaceCoin, once they receive it?
This is not Facebook’s first venture into virtual currencies, payments, or peer-to-peer pa