Facebook’s new cryptocurrency

[shadow.bishop]

Visa, Mastercard, PayPal and Uber are all backing Facebook’s new cryptocurrency, according to a new report.

The Wall Street Journal reported Thursday that the social media giant has signed on more than a dozen backers for its GlobalCoin cryptocurrency, a stablecoin that has been developed in secrecy for more than six months. Each of the new backers will invest roughly $10 million in the project as part of a governing consortium for the cryptocurrency.

More details;
https://www.coindesk.com/report-uber-paypal-visa-to-back-facebooks-globalcoin-cryptocurrency

[Quart]

It is great news, there many parties supporting the innovation of Facebook. I assume there are many impacts to appear after Facebook releases its coin in the near future. I hope there are many parties to adopt crypto when Facebook follows the crypto trend. Anyway, Facebook to provide its coin is surprising for me.

[aiviaa485]

Every new supporter must invest around 10,000,000 USD, is this serious?
Very much value and this is not imagined if (at a minimum) there are 100 people who join, we can count it like this.

10,000,000 USD x 10 Investors = 100,000,000 USD.

it's only with 10 investors, what if 500 investors from all over the world or more. Wow Amazing!

[ZionRTZ]

"has been developed in secrecy for more than six months" is just too funny. Let us pretend that we have not heard of the global coin yet or that they have been in contact with exchanges already.

Aside from being a stable coin, I don't see it having any kind of privacy feature also.

[Stavr1992]

It would not be difficult for Facebook to raise as much as it needs. I am sure that the Fabokok cryptocurrency will be popular, as well as TON

[serggg]

will force to pass verification. then merge personal data

[Bobcrypto]

And besides, the popularity of globalcoin, the project may be very difficult to participate as per bounty hunting. Hunters may not have the opportunities to earn much if this huge sum( $10m) has already been planned by some of these investors.

[masterrex]

Visa, Mastercard, PayPal and Uber are all backing Facebook’s new cryptocurrency, according to a new report.

The Wall Street Journal reported Thursday that the social media giant has signed on more than a dozen backers for its GlobalCoin cryptocurrency, a stablecoin that has been developed in secrecy for more than six months. Each of the new backers will invest roughly $10 million in the project as part of a governing consortium for the cryptocurrency.

More details;
https://www.coindesk.com/report-uber-paypal-visa-to-back-facebooks-globalcoin-cryptocurrency

It means that the popularity of cryptocurrency is expanding even those existing giants are already threatened thats why they are adopting it and ride with the flow. But i think its not like Bitcoin that work in decentralized way. its very obvious because they are controlled by centralized entities.

[shadow.bishop]

Facebook and the dozens of partners who The Block identified earlier will introduce the Libra Association, based in Geneva, which will oversee Libra, “a simple global currency and financial infrastructure” meant to reach billions of people.

For more details;
https://www.theblockcrypto.com/2019/06/14/facebook-to-launch-libra-blockchain-testnet-next-week-backed-by-libra-reserve/

[Payme21]

This goes to show how big the blockchain is going to be. If Facebook can go into this with this amount and calibre if investors, it shows that this technology is going to be massive in the near future

[tarolog]

The whole question is - will this cryptocurrency really be used?  That they will try to raise its price is yes, but whether it will be used is a big question.  Although advertising cryptocurrency in such a huge social network is good.

[Prime]

Facebook really seems to offer very serious cryptocurrency. They have their own big name and then going to create the crypto. I think with their great team, this coin can enter the crypto world easily. However, of course, it should match with how valuable, useful, and applicative the crypto itself.

[sturec22]

 That is actually super weird, facebook was banning the crypto ads, even though they had the reason of the scam ICOs, it seemed like facebook was against cryptocurrencies.
I think it will have a huge hype, and can increase the bitcoin FOMO

[Zurcemozz]

That is actually super weird, facebook was banning the crypto ads, even though they had the reason of the scam ICOs, it seemed like facebook was against cryptocurrencies.
I think it will have a huge hype, and can increase the bitcoin FOMO

Yeah, it surely weird but with the increasing population of crypto, they need also to create this kind of things. What if other social media adopt this crypto because of the demand of people to pay through online. I guess that is what Facebook team looking out.

[Bradley]

Whatever someone believe it or not but facebook coin is going to beat all others there are few reasons for it because Facebook is well-known social media and billions of people use it every day so this kind of massive marketing will bring him to the top. The Facebook coin is going to be the future of crypto according to my analysis.