What is Facebook’s Crypto? Do you think Globalcoin will be successful?
The Silicon Valley giant has been working on their own cryptocurrency. Globalcoin is expected to be a digital medium of exchange for Facebook’s extensive ecosystem, and will be available through physical automated tellers and exchanges.
Facebook is finally ready to reveal details about its cryptocurrency, codenamed Libra. It’s currently scheduled for a June 18th release of a whitepaper explaining its cryptocurrency’s basics, according to a source who says multiple investors briefed on the project by Facebook were told that date.
Facebook has already started discussions with the U.S. Commodity and Futures Trading Commission (CFTC) over the social media giant’s crypto stablecoin initiative.
What do you think happens when billions of people in the world get presented with a digital currency? Of course, this info is all subject to change but all signs are pointing to a big reveal coming very soon.
Share your thoughts
Just read this on CCN:
Economist and crypto-critic Nouriel Roubini said the project had nothing to do with blockchain or cryptocurrencies:
“It has nothing to do with blockchain. Fully private, controlled, centralized, verified and authorized by a small number of permissioned nodes. So what is crypto or blockchain about it? None.”
What do you think?
Indeed, it will be interesting to watch.
Crypto-based payments ecosystem across Facebook, Messenger, Instagram, WhatsApp, and beyond. This will reach billions of people.
The formal launch is expected sometime in 2020 after a testing phase later this year.
Would you buy it? 🙂
I read the article.
We all know that Facebook and privacy does not fit together. I don’t trust Marc Zuckerberg for one bit 😀
On a speculative side, it might be interesting to invest and make some gains. I remember when Facebook got listed on the New York stock exchange and how profitable it was.
But for now, I stick with Koto and Mona 😉