Bitcoin, Crypto currency, Blockchain

The Facebook GlobalCoin comes in 1. Quarter of 2020! – Coin Hero

815bc3ea25dd9925ecf50226e2ac47bf - The Facebook GlobalCoin comes in 1. Quarter of 2020! - Coin Hero

The Facebook GlobalCoin comes in 1. Quarter of 2020!

Home News The Facebook GlobalCoin comes in 1. Quarter of 2020!

Of
Marcel Knobloch –
24.05.2019

The world’s largest Social Media platform, Facebook has finally brought light into the Dark as to its intention for the development of a crypto-currency. Until the beginning of next year, Facebook plans to launch a digital payment system in a number of countries, and wants to start by the end of this year, with the Test of one’s own “GlobalCoin”.

According to the BBC, Facebook has already spoken with the Governor of the Bank of England, Mark Carney, and will publish this summer, more Details to its cryptographic ambitions.

According to reports, Facebook is planning its crypto-currency called “GlobalCoin” up to the first quarter of next year to 2020 in a dozen countries. In addition, the Social Media giant plans to test the crypto-currency by the end of this year. Zuckerberg has met already with the U.S. Department of the Treasury, in order to clarify regulatory questions. In addition, the report says that Facebook is actively working on his new project, as it is called, “will compete with the banks”.

It is expected that the GlobalCoin will be published as a “Stablecoin”, which is tied to the US Dollar or local currencies in the countries in order to avoid volatility and speculation. It is also likely that it runs on a private, centralized Blockchain, which is in the possession and under the control of Facebook, so that the GlobalCoin is not currencies comparable to Bitcoin, Ethereum, or other decentralized Crypto.

Can Facebook be with Finance familiar?

The U.S. Senate and banking Committee, recently wrote an open letter to Mark Zuckerberg, in which he asked for the Details of the project. The concerns related to the fact that if Facebook released a digital currency that people around the world will act in order. The Committee also expressed concerns in relation to the issue of privacy on Facebook.

In view of the debacle, in which Facebook recently with security breaches and wide-scale misuse of data was confronted, seems to be the privacy issue to be the big question: do you trust Facebook with my own money? The answer is for each to decide for himself, except our point of view, but clearly no be. Even co-founder Chris Hughes has recently called once again, to smash Facebook, because it’s have uncontrolled Power and is out of control.

Our opinion: The world’s largest Social Media company may soon have its very own virtual currency (which is not the basic idea of Bitcoin Justice), but in accordance with the privacy violations, safety violations, censorship and fake news spread, people should think twice about whether you want to use the GlobalCoin really and even more of your data to Facebook price want to give.

Featured Image: Ink Drop | Shutterstock

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