Bitcoin, Crypto currency, Blockchain

Facebook released the white paper for the GlobalCoin on 18. June – Coin Hero

d16150272a503a68de92f49624200e96 - Facebook released the white paper for the GlobalCoin on 18. June - Coin Hero

Facebook released the white paper for the GlobalCoin on 18. June

Home News Facebook released the white paper for the GlobalCoin on 18. June

Of
Marcus Misiak –
07.06.2019

After months of rumors, it seems that the digital currency from Facebook takes ever more shape. As TechCrunch reported, the company plans, the white paper for the so-called “Globalcoin” on 18. June – publish, so in just two weeks.

The statement also seems to be a Facebook Manager has been confirmed. In addition, The Information has been published, a publication with credible sources, that Facebook will make this month a major announcement about its ambitions in the Digital Asset area. GlobalCoin, such as the upcoming digital currency is announced, it should allow the users to save on Facebook applications like WhatsApp and Messenger, to act and to change.

Now that the Globalcoin is just before the Start, has Facebook supposedly started in order to strengthen its staff in the field of crypto-currency. According to LinkedIn data, the company has 100 employees that work in the Facebook Blockchain Department, and seeks forty for more talents to fill some of the gaps. A quote is:

Our ultimate goal is to no longer support the billions of people with access to things you have now – this could be things such as health care, fair financial services, or new ways for the storage or exchange of information.

As we already reported, will be the Globalcoin is a Stablecoin that is based on a number of national currencies, and is allegedly used to give billions around the world a way to assets at a low cost to act without limits and without the difficulties with the traditional banking.

In addition, it was announced that Facebook will make $ 10 million if they want to run a validation node. Currently, there is no further information on the requirements that must be met in order to become a validator node, or how these third parties will be rewarded. In any case, GlobalCoin seems to be the counterpart to Bitcoin, where anyone can run their own nodes with relatively low resources. In other words, Facebook’s “crypto” is not going to be Peer-to-Peer, but rather Peer-to-Corporation-to-Peer.

In addition, The Information reported that the company also intends to build physical ATMs, where the user can buy the new crypto-currency. Another interesting finding is the fact that Facebook will allow Reports of its employees to be in the new crypto-currency is paid.

GlobalCoin vs. Bitcoin

All of this raises the question of whether and how the Globalcoin will have an impact on the crypto currency market, Bitcoin, once the Launch is done.

Mike Novogratz of Galaxy Digital declare that the GlobalCoin could be the crypto currency market is beneficial. Novogratz told CNBC last week that “Facebook for the Ecosystem is of great importance” and added that the tacit support of the technology behind Bitcoin overwhelming. He even stated that Globalcoin is going to increase contrary to popular belief, the value of the non-centralized crypto-currency ecosystem and not reduce.

Novogratz is not the only one in the industry who thinks so. In the first quarter of 2019 published Twitter Thread, Ari Paul, the founder of block tower Capital noted, that the so-called “coporate coins”, while “the Intranet will be similar to” work, but the “Internet”-more similar to Bitcoin help. Paul explained that the Globalcoin and due to its centralization and censorship had options for “the crusaders of Bitcoin” uninteresting, because they are enthusiastic about censorship resistance, immutability, security and Peer-to-Peer systems. However, he adds that a centralized Crypto-currency “the global interest will increase dramatically”.

Featured Image: Steven Tritton | Shutterstock

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