Mark Zuckerberg has a plan. According to BBC News, #Facebook will launch its expected #cryptocurrency in a dozen countries during the first quarter of #2020 , and it is possible that the first tests of the virtual currency will begin later this year.
Apparently, the cryptocurrency is known internally as "GlobalCoin", which suggests that it has an international aspiration.
This is not the first time we've heard that Facebook is working on a cryptocurrency. Late last year, Bloomberg reported that the social networking giant was developing a cryptocurrency for #WhatsApp . Codenamed "Project Libra," it was said to be a "stablecoin," a digital currency backed by the US dollar to minimize its volatility. Facebook would have opted to try this currency in the Indian market.
WhatsApp has 1,600 million users, many of whom are in countries where not everyone has access to a bank account. WhatsApp is the most popular messaging application in India, where it is said that Facebook is interested in doing tests, but approximately 20% of the population does not have a bank account, and of the percentage that has it, approximately half of the accounts they are inactive. According to a 2017 World Bank study, 31% of adults around the world do not have a bank account.
Facebook already experimented in 2010 with a currency called Credits. Designed as a secure way to pay for virtual goods or premium features, the Credits failed to gain traction and were canceled in 2012. But that project was not in blockchain, and as we know, putting things in blockchain solves everything.
Worries? Many, we all know how good Facebook is protecting your data.
#globalcoin #markets #btc #cryptocurrencies #cryptos #digitalassets #altcoins #digitaleconomy #bitcoin #blockchain #disruptive #money #wealth #investments #pmptrading #igersoftheday - 23 minutes ago