Facebook will issue "GlobalCoin" before 2020 - What do you think about this?

[bounty.cvn]

Social networking giant Facebook will release its own electronic money called "GlobalCoin" in 2020, news from the BBC.

The news agency said on Friday that Facebook will plan to issue an electronic-based payment system in many countries before the first quarter of 2020 and is planning to test it before the end of the year.
More information about Facebook's e-money plan will be revealed in the coming month. They also added that Facebook is looking for advisors from the US Treasury Department and leaders from British bank Mark Carney about opportunities as well as legal issues for the discovery, the project is given is called "Project Libra"

This news comes at a time when reports suggest that Facebook is having talks with payment companies including Western Union, Visa and Mastercard to be able to support and financially support the electricity currency. They were pegged for their legal fees. The e-currency development project is expected to help billions of Facebook users can transfer money as well as make online purchases.

On May 2, Facebook registered to set up a new "Libra Networks" company in Geneva (Switzerland), which will enable them to "provide financial and technology services as well as hardware development simultaneously." is the software attached. " Last month, it was reported that Facebook could mobilize $ 1 billion to deploy this stablecoin project.
What do you think about this. Let's discuss the future of Facebook coin and social disturbance

[Nalbo]

It is good to see a major tech firm taking advantage of block chain to provide services for the users. Social network is one of the sector that requires dynamic progression otherwise some other comes in to steal away the traffic. Crypto based rewarding social networks has been started to take away some of the traffic from Facebook as they are more rewarding to both content creator and viewer and Facebook wants to retain its position.

[r32godzilla]

I am afraid of these upcoming coins. Facebook coin applied for licenses in UK bank, if they receive that they will become the first legally cryptocurrency used by masses.

[Adriano2010]

I really don't like the idea to combine crypto with banks, but what i want to ask will Facebook name their crypto as "Global Coin"? I also think that this new coins can affect maybe old coins.

[darkangel]

Facebook is one of the global household names in the world and its involvement into crypto will go a long way to depict the core benefits of cryptocurrency to ict companies and the likes and how they can drive more value through crypto

[3x1t]

What do you think about this. Let's discuss the future of Facebook coin and social disturbance

What is crystal clear right now is that Facebook coin won't be a financial instrument for speculations in the cryptocurrency market since they are emitting a stable coin for internal payments to their social network.

Concerning the mass adoption (what is expected by the bearish market traders), I don't believe it will be a cryptocurrency in conventional understanding of its word (like bitcoin or ether).

The time will show anyway.   

[Viceroy]

I think it will be the most usual stable coin, only very popular and convenient to use. I do not like Facebook and their policies, but I will be glad if they cope with this task.

[qazgroup]

To be honest we should tale this crypto initiative from fb positively as i think it will boost confidence among general public as fb has millions and millions of active users and also people will be interested to know and invest in other mainstream cryptos that will eventually help in adoption and market growth.

[lobat999]

To be honest we should tale this crypto initiative from fb positively as i think it will boost confidence among general public as fb has millions and millions of active users and also people will be interested to know and invest in other mainstream cryptos that will eventually help in adoption and market growth.

Yeah, I also feel we should embrace it wholeheartedly since it only shows that crypto is becoming more mainstream and this could be "a light at the end of the tunnel" so to speak. And when it happens, I think it will contribute to global mass awareness on cryptocurrency and I think more people will get involved in crypto than ever and that will be great for the whole cryptoverse in general!

[Simple_Plan]

The only thing that I expect in Facebook's coin is that it will make cryptocurrency more popular to people. I don't expect it will contribute anything like technology to crypto world. Mark Zuckerberg is a cunning old fox. He just tries to benefit from his users.

[chaoscoinz]

I have to tip my hat to Facebook for their realization of needing to introduce cryptocurrency to the masses. If anyone can reach the people, then it would have to be Facebook. Their reach alone extends around the globe. They will single handedly hip people to the utility of crypto currencies. Sweet!  
The only downside to this is the fact that Facebook is centralized and the main attribute that Satoshi was trying to push was decentralization. Still, this is going to be big!

[Dr.Sponge]

i think its a great idea if they were realizing the global coin they had issued for around many years. its a great thing if they realize their most important thing for the crypto.

[Wintersoldier]

Facebook is one of the global household names in the world and its involvement into crypto will go a long way to depict the core benefits of cryptocurrency to ict companies and the likes and how they can drive more value through crypto

If you will going to look at what will be the main event in this facebook coin launch in the market, it will going to be simple, cryptocurrency market adoption will be at its finest at more and millions of people around the globe will be encourage to learn and understand how cryrpto works, in result, more volume will be generated

[r1s2g3]

Facebook crypto currency will be much different than current eco system

1. It will be centralized instead of decentralized.
2. I do not think facebook will allow mining of it currency.
3. Facebbok will dictate on the pricing of cryptocurrency.

Q: Will it help btc or other crypto adoption?
A: No.

[tsaroz]

It would be a step forward for Facebook.
Facebook is losing a lot of users from it's platform because of privacy issue and it's being greedy. Tokenizing the platform would at least solve some problems like rewarding the content creators.

[rosezionjohn]

I will just wait for them to launch and observe how the market will react to that globalcoin. Other than it will be a stable coin and be used as global payment, I don't have any idea what this coin is all about.

[lobat999]

Q: Will it help btc or other crypto adoption?
A: No.

Its too early to tell what will be the effect of that coin if Facebook did really implement it but I guess it will create a buzz over social media and other media channels and will help spur mass awareness for cryptocurrency and the industry in general which I think will result to a positive effect among non believers.

[Red-Apple]

expect a ton of these types of coins from a lot of different companies, banks and governments. basically we had 3 periods so far. the first one was the revolution that started with bitcoin and then some other initial altcoins that were decent projects. the second one was the pumping period where the hype was so much that it attracted lots of scammers who created a ton of shitcoins (mostly ICO tokens) and took newbies' money. the third phase is going to be the centralized sector doing the same thing but under regulation!!!

my guess would be the 4th period is the death of all the junk including the coins created in 2nd and 3rd periods and only the good projects surviving and going on.

[LoyceV]

Why is this advertised as if it's competition for Bitcoin? It sounds to me like Facebook is going to compete against Paypal.
A centralized payment system doesn't need a blockchain and can't be anonymous.

[saba1256]

As you know FaceBook wants to launch own coin as like Bitcoin but Bitcoin will always prime and this announcement will boost the crypto market.