Illustration: Aïda Amer/Axios

Yesterday's privacy announcement from Facebook CEO Mark Zuckerberg has been framed as a response to public outcry about the company's lax data privacy standards, but it's really about Facebook going all in on what it sees as the future of communication, payments and life.

What's next? The new "Facebook coin," even if not quickly adopted by payment processors, can become a global currency that users of Facebook, WhatsApp and Instagram can use to complete transactions among themselves anywhere in the world.

  • The inspiration here also comes from China, where cash is essentially a thing of the past. Even with merchants on the street, customers use Alibaba's mobile payment processor Alipay and Tencent's WeChat Pay to buy everything.
  • As Shannon Liao wrote for The Verge last year, WeChat is not just a platform where people talk to friends, it's where they "play video games, pay bills, find restaurants, book doctor appointments, file police reports, hail taxis, hold video conferences and access banking services. State-run media and government agencies also have official WeChat accounts, where they can directly communicate with users."

Both platforms individually handled more payments in a single month in 2017 than PayPal's $451 billion for that entire year, according to research firm Analysys. In 2017, mobile payments totaled $32 trillion, according to the People's Bank of China.

  • With that kind of scale and access to user data (which will deepen substantially with tracking of users' bank accounts and spending habits in addition to their phone records, messaging history, location and searches) it's not hard to imagine companies won't pay up to accept and get a piece of Facebook coin — to say nothing of advertising.

Yes, but: There's no guarantee this all works out for Facebook. The Cambridge Analytica scandal showed Americans are averse to at least some level of privacy invasion and whereas the Chinese government is basically a partner in WeChat, the U.S. government may prove more of an adversary for Facebook.

Go deeper: Facebook’s pivot is bigger than privacy

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 11,317,637 — Total deaths: 531,729 — Total recoveries — 6,111,910Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 2,852,807 — Total deaths: 129,718 — Total recoveries: 894,325 — Total tested: 34,858,427Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona hot spot near capacity — Houston mayor warns about hospitals
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Former Trump official Tom Bossert says face masks “are not enough”
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: Sports return stalked by coronavirus
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.
5 hours ago - Sports

Sports return stalked by coronavirus

Tampa Bay Rays left fielder Austin Meadows bumps elbows Friday during a workout at Tropicana Field. Photo: Kim Klement/USA Today Sports via Reuters

When MLB teams arrived at the ballpark this weekend for the first summer workouts of 2020, the comforting sounds of baseball brought smiles to players' faces.

Between the lines: Even the loudest crack of the bat couldn't mask the eerie silence or distract from the ever-present coronavirus threat.

6 hours ago - Health

239 scientists call on WHO to recognize coronavirus as airborne

People walk at the boardwalk in Venice Beach. Photo: Apu Gomes/AFP via Getty Images

A group of 239 scientists in 32 countries is calling for the World Health Organization to revise its recommendations to account for airborne transmission as a significant factor in how the coronavirus spreads, the New York Times reports.

The big picture: The WHO has said the virus mainly spreads via large respiratory droplets that fall to the ground once they've been discharged in coughs and sneezes. But the scientists say evidence shows the virus can spread from smaller particles that linger in air indoors.