Facebook plans to launch 'GlobalCoin' currency in 2020

[bL4nkcode]

Facebook is finalising plans to launch its own crypto-currency next year.

It is planning to set up a digital payments system in about a dozen countries by the first quarter of 2020

https://www.bbc.com/news/business-48383460

Sounds old, but this might be true this time.

[Beerwizzard]

We can see a strong trend about using different social media or messenger accounts also as your electronic wallet. Every shitty app now is either going to implement p2p payments or already did it. For example in China millions of people are already using WeChat Pay every day. And Facebook is also following this trend. No matter if they make a stablecoin or just their money transfer thingie it would be a centralized thing in all cases.

[KingScorpio]

Facebook is finalising plans to launch its own crypto-currency next year.

It is planning to set up a digital payments system in about a dozen countries by the first quarter of 2020

https://www.bbc.com/news/business-48383460

Sounds old, but this might be true this time.

bbc should report on every single person launching a "global coin" declaring himself a billionaire

[Duzter]

This takes the global cryptocurrency user community forward. Facebook earlier stopped the ads related to cryptocurrency and later they began to show positive signs of interest towards blockchain and cryptocurrencies. China one among the global leader of cryptocurrency users in the past has now more popular with its increased number of usage of digital wallets for each and every commercial need without any intermediary. Now Facebook with its plans will surely serve as a common asset for all transactions within the social media.

[Artemis3]

Facebook is finalising plans to launch its own crypto-currency next year.

It is planning to set up a digital payments system in about a dozen countries by the first quarter of 2020

https://www.bbc.com/news/business-48383460

Sounds old, but this might be true this time.

NO, because they are too late to the game. Its going to flop. They should have adopted an existing coin, preferably the best: Bitcoin.

The amount of diverse "digital payment systems" is getting out of hand, and people aren't going to bother even with Facebook behind.

Facebook is not as strong as they think. I could cite Bitmain, by getting involved with an altcoin, was almost run into bankruptcy. And this is a company WITH crypto experience, unlike Facebook.

Of course it should be mentioned that this is probably getting whatsapp/instagram involved as well, as all three are owned by the same company. But that isn't going to cut it.

They call them "Global" but being Facebook its already tied to US laws, that immediately negates its name. Bitcoin IS global, this never will.

[bekkioPEK]

if facebook, whatsapp or any other "powerful" multinational company creates a cryptocurrency, you lose the sense of decentralization with which BTC was born and the fantastic world of critpovalutes. then you need to understand what kind of algorithm they want to adopt, whether it will be a coin PoW, PoS or other. I remain very skeptical for now

[Congyang]

a good step for Facebook with big names and many users allows Facebook to become one of the globalcoin launchers who will be successful if supported by a solid team and it becomes a new launch for social media like Facebook

[kryptqnick]

Facebook is finalising plans to launch its own crypto-currency next year.

It is planning to set up a digital payments system in about a dozen countries by the first quarter of 2020

https://www.bbc.com/news/business-48383460

Sounds old, but this might be true this time.

Even if it is, I don't see why we should care. Facebook does not care about the privacy of users, allows advertising that is biased when it comes to race and gender. The article you've shared also raises additional data gathering concerns related to this payment system. The article does not say whether the coin is going to be centralized, but I think it's natural to assume it will be. Firstly, it is mentioned that Facebook might be negotiating with merchants in exchange for lower fees. If they can lower the transaction fees, I think it already hints centralization. Secondly, I don't think Facebook would risk with volatility associated with actual cryptocurrencies. Well, we'll see what comes out of it all.

[mk4]

NO, because they are too late to the game. Its going to flop. They should have adopted an existing coin, preferably the best: Bitcoin.

Adopting an existing coin, especially a leaderless and CEO-less coin, won't make them much money. As much as I don't want this, of course it makes complete sense that they're going to make their own. Facebook, Google, and some others are those companies that is trying to dominate and monopolize whatever they can on the internet.

bbc should report on every single person launching a "global coin" declaring himself a billionaire

Yeaa.. we're talking about Facebook and Mark Zuckerberg though, who is no doubt wealthy as fuck. No matter how controversial he and his company is, he's definitely just not the typical "person".

if facebook, whatsapp or any other "powerful" multinational company creates a cryptocurrency, you lose the sense of decentralization with which BTC was born and the fantastic world of critpovalutes.

Not all cryptocurrencies are made to be decentralized, especially with stablecoins, which I think GlobalCoin is planning to be.

[senin]

Facebook is finalising plans to launch its own crypto-currency next year.

It is planning to set up a digital payments system in about a dozen countries by the first quarter of 2020

https://www.bbc.com/news/business-48383460

Sounds old, but this might be true this time.

While very little information about the coin FB, which is going to run on Facebook. If this is another stable coin, then it will not have any significant effect on the cryptocurrency. Undoubtedly, it will be a grandiose project, if one billion dollars is planned to be invested in it. In any case, this will contribute to the overall implementation of cryptocurrency. Moreover, Facebook had previously been very unkind towards cryptocurrency advertising.

[Genemind]

I have heard of this news and there are different names of coins coming out but still, nothing is confirmed yet.
I believe if facebook or any social media app would launch a currency, it will be most influential since it will be easy for them to endorse and promote such coins.

[blockchainwriters]

The global coin will be their own crypto wallet for Facebook advertising and other product and services facebook entry to the crypto field will be a game changer for crypto industry all together

[kingpin4321]

There has been far to many articles about facebook and then launching a new coin but as it is there has not been any step into making it come to past.
I feel all this are rumours with not enough substance to back it up

[dothebeats]

It's quite fascinating to see that multi-billion dollar companies that once shamed bitcoin and cryptocurrencies in general are now adopting the tech and creating their own version of it. IMO, Facebook should just stick to their Facebook Credits thing and not push towards the creation of their own cryptocurrency. Apparently it's becoming a fad now and many people--instead of being educated--are getting more and more confused on what really are the goals of different cryptocurrencies.

They could have named the crypto with a better one even though we know these are only rumors at this time.

[Ailmand]

I actually see it as a positive thing but I still doubt it at some point. We all know that Facebook has banned crypto advertisements before so I don't think it's still interested in launching their own coin. If it's just going to be a mode of payment for advertisements, why don't they just use well-established coins like Bitcoin? I'm just wondering.

[Upgrade00]

I actually see it as a positive thing but I still doubt it at some point. We all know that Facebook has banned crypto advertisements before

Actually, Facebook banned ICO advertisement and not cryptocurrency as a whole, as most ICOs at that time (and even now, although it's not nearly as popular) were defrauding investors and contributors.

It would help if they do adopt an existing cryptocurrency or create their own. As at now it's difficult to pay for advertisement using lower currencies and it's not as effective as when you use a dollar-account. So a cryptocurrency would balance the process.

[Bonwin]

This will definitely create more awareness for cryptocurreny and blockchain technology.
I am beginning to think of a situation where facebook users are paid, based on their activities. First, it will foster the growth of facebook, despite being the fastest growing social media platform all over the world. Also, the adoption of cryptocurrency will be enhanced and everyone will be more sensitized.

[TechComputer]

Sounds good and sounds crazy too. By Facebook, everyone could know cryptocurrency and learn it but the bad is everyone can dump the market if all of the people know crypto. 

[bbc.reporter]

I speculate that it might partner with an existing blockchain platform project where Facebook will issue their tokens. However, which one will it be? Ethereum appears that it might be the first choice because of its success in brand development.

[Pffrt]

True and they have already in contact with coinbase and gemini, whatever I have read. I think this will be good one because it will impact positively and more people will know about cryptocurrency.