Facebook project into the world of token is one of the most hyped issues of the last few days. It is worth mentioning the fact that a Facebook-style corporation joins the crypto world and produces its own. And it’s not meant to be. While 2-5% of subscribers worldwide are interested in a wild guess, it’s certainly going to wave in the world of cryptocurrencies.
According to the news from the blockchain and cryptocurrency community, Facebook has been working for some time to create its own cryptocurrency. They named it “Project Libra.” The coin is a stable coin form and is called Globalcoin.
There are also some reports that in June Facebook will create a white paper for its ICO. If everything goes well, the coin will be in circulation in early 2020.
Globalcoin – So far, what do we know?
Globalcoin is expected to be released in the first quarter of 2020 to users in about 12 countries.
It’s reported that Facebook partners with Visa and MasterCard payment card behemoths to help the upcoming cryptocurrency. There were reports about the BBC as well. Facebook should also be in touch with transactions from Western Union.
FB Globalcoin’s is called a basketcoin. Basketcoin is stablecoin-like. It means the price volatility will be agnostic and connected to many properties rather than just one as in stablecoin.
Facebook is also aiming for a $1 billion investment fund to finance the Globalcoin.
In crypto-media, there were reports that Facebook is in touch with various crypto-exchanges for Globalcoin lists.
Let’s wait and watch for Facebook products to launch its next cryptocurrency. Maybe Facebook will try to take a pie from the banking sector with its customers or marketers in its commercial transactions.
Facebook has already licensed a Swiss company called Libra Networks as a supplier of Fintech and blockchain technologies. Libra Networks provides services related to recruitment, transactions, funding, identity management, analytics, blockchain big data and other technologies.
Let us explore how everything in the near future and in the long term can affect the cryptographic universe.
Bitcoin price rise eventually with the introduction of Facebook crypto
With a Facebook subsidiary operating in the crypto-monetary environment, the stakes are definitely high. In particular, this will improve the group of cryptos. The strongest and most common Bitcoin will receive a new power.
If even 2-5 percent of Facebook users get interested and the Globalcoin is connected to other crypto currencies, Bitcoin can generate more interest.
Bitcoin will see new highs and a strong interest with all the hype and euphoria.
For Facebook and J.P. firms. Through promoting the blockchain with their own coins like JPM Coin and Globalcoin, more people are going to trip about bitcoin and other cryptocurrencies.