Facebook GlobalCoin:- Facebook is planning for its own cryptocurrency. Which is called Facebook GlobalCoin. In Yahoo news, it is said that Tech industry insiders and cryptocurrency entrepreneurs are divided on the prospects of Facebook’s (FB) much-anticipated new “GlobalCoin.”
Some think it will be a game-changer inthe world of cryptocurrency. Others predict another failed attempt to make cryptocurrency workable in the real world.
according to reporting by the BBC, the Wall Street Journal, the Financial Times, and Bloomberg. The company has over 60 employees working on the secretive project internally.
“They have almost like a SWAT team that’s very talented,” Tim Byun, the CEO of Silicon Valley-based OKCoin, told Yahoo Finance UK. “They’re serious about it.”
The social media giant has not commented on the reports but there is speculation that the new currency could be used to reward users for watching ads on its platform and spent at major retailers, not just on Facebook. It will be reportedly be pegged to the dollar.
“That’s super exciting,” Antoni Trenchev, the co-founder and managing director of crypto lending business Nexo, told Yahoo when asked about the project. “Talking about adoption, who better than Facebook?”
How does Facebook’s Globalcoin going to change the internet
There is a number of cryptocurrency enthusiasts and lover who think Facebook’s globalcoin industry could prove a point. Cryptocurrencies first emerged with the creation of bitcoin in 2009 but have struggled to find mainstream users.
With 2.3 billion monthly users, Facebook could change the idea of the payment receiving and sending. If even a small number of its users adopt the new Facebook GlobalCoin it could radically increase the number of people interacting with cryptocurrencies.
How to use Facebook Dating app
“Anything that gets people thinking in terms of financial units that are not just dollars or not just at a bank opens people’s minds to new things,” Erik Voorhees, the cofounder of crypto exchange Shapeshift, said.
Reports about Facebook’s crypto ambitions coincided with a small revival in prices and the official launch of ‘GlobalCoin’ could provide another boost.
“Everyone of those headlines helps because it just spurs more interest in the space,” Steve Quirk, the vice president of trading at US stockbroker TD Ameritrade, told Yahoo Finance UK.
Facebook GlobalCoin Releasing Date
Facebook plans to launch its own cryptocurrency that is called “Facebook GlobalCoin Cryptocurrency” Next Year. That is 2020 and in its initial stage it will be available for only a few countries and they further add more countries to the list if it’s gonna work like facebook thinking it works.
How To Buy Facebook GlobalCoin Cryptocurrency
There can be several ways of buying facebook globalcoin or earn it. There are some reports that said facebook give some rewards as a globalcoin if you watch ads and videos on Facebook.
5 Interesting Things You Should Know About Facebook Cryptocurrency
1) in Facebook’s GlobalCoin consumers would likely be able to use the currency even if they don’t have a bank account, according to reports.
2) The currency would enable Facebook users to change dollars and other international currencies into its Globalcoins.
3) The GlobalCoin could then be used to buy things on the Internet and in other outlets, or even to transfer money to another user.
4) The possibility of money being sent through Whatsapp may become a reality soon with Facebook’s GlobalCoin. A news report last year had said that Facebook is working on a digital currency project that will allow users to transfer the cryptocurrency using mobile-messaging app WhatsApp.
Even during Facebook’s developer conference last month, Mark Zuckerberg had said: “I believe it should be as easy to send money to someone as it is to send a photo.”
5) Facebook also has plans at paying users fractions of a coin for activities such as viewing ads, video and interacting with content related to online shopping, different types of schemes run by retailers.
6) Facebook is also reportedly in talks with MasterCard and Visa for accepting the currency as payment in return for lower transaction fees.
7) Reports say Facebook is looking to peg GlobalCoin’s value to a basket of established currencies, including the US dollar, the euro, and the Japanese yen, to stabilize the value of the digital currency.
8) Facebook is looking for $1 billion in funding to support the project, and has held talks with payments giants including Visa and Mastercard, according to reports.
9) Facebook has reportedly discussed with the US Treasury the process of identity checks and how to reduce money laundering risks.
10) A Barclays Internet analyst had said in March that the cryptocurrency could contribute as much as a whopping $19 billion in additional revenue to Facebook by 2021.
Sources:- News18
