It is no secret that Facebook is working on a cryptocurrency project. In the conversation of the founder of Facebook with the Bank of England Governor Mark Carney, more details were revealed.
The company is set to release the GlobalCoin coin in the first quarter of 2020, the BBC states. Tests are scheduled for the end of this year.
To implement the payment project, Zuckerberg is negotiating with a number of global payment systems, including Western Union. In an attempt to stabilize a digital asset, the value of the coin will be pegged to a basket of established currencies, including the US dollar, the euro, and the Japanese yen.
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Obviously, Facebook is preparing to launch a global payment system based on cryptography and e-commerce. This step can have a huge impact on the cryptocurrency market in general, given that the Facebook user base is about 2.38 billion active users per month.
However, much remains to be seen. Will GlobalCoin be with open source code? On the blockchain of which crypto platform will it be built? Will it be available outside of Facebook? Official news about the project, according to the BBC, may appear this summer.
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