That’s right, as we explained in the announced short of this news the company of the well-known Mark Zuckerberg, is working on his own cryptocurrency and this will be called according to the first rumors and leaks that have reached the network: GlobalCoin.
The fact is that Facebook plans are short – term and apparently this virtual currency could reach officially presented during this year 2019 to be ready in the early stages of 2020 really a time that is talking about this possibility ago in the popular social network and now everything seems to be clearer with more leaks and data about it.
The well-known Project Libra for WhatsApp is similar to GlobalCoin
And it is not the first time that the bells ring on Facebook with this type of coins and the well-known one with the code name like Proeject Libra for WhatsApp, a virtual currency with the dollar, the Yen and the Euro as support not to become in a volatile currency, it happens to give birth to GlobalCoin, which would be something similar to the one created a few years ago and called “Credits” , the currency that allowed Facebook users to buy items in social network applications. The fact is that “Credits” stopped being operational in 2012 due to lack of support and now they want to get back into this method or a similar one.
By this we mean that GlobalCoin will be born to make shade or compete directly with the already known BitCoin and similar, but also to compete with PayPal because if they manage to get online with the online stores to accept this currency (for the moment they would be negotiating) will serve to make payments and purchases online.
GlobalCoin: First tests in countries like India
It seems that thanks to WhatsApp the company would begin to conduct tests in countries where many users of this app do not have direct access to a bank account, so it would serve as a launching pad for the rest. In this case, the most popular or most popular app in India is WhatsApp, where there are more than 1.600 million users of the app so it can be a perfect test bed.
The places where you are planning to implement this Facebook coin are unknown, although it is obvious that they have to be places where many users have the ideal profile to make these payments with GlobalCoin, so it is clear that the first will not arrive to all countries and will be implemented little by little.
Official release date for this GlobalCoin
The truth is that we walk on rumors and although more and more are the means that are uncovering the possibility of launching this cryptocurrency of Facbook, there is no official date on which it can be said that it will be in the market. What we do have more or less clear is that this digital currency can become operational during the first months of 2020 and is that even as BBC News could know there are already meetings with the governor of the UK bank, Mark Carney, to talk about the opportunities and risks involved in having a virtual currency.
This is a clear indication that events are accelerating to the maximum to be able to start testing or taking the first steps in several countries at the end of this year, a time after presenting it officially this past summer. But nothing officially confirmed by Facebook so it will play little by little follow the rumors and leaks for the official dates.
Doubts about this currency and its services?
The specialized analysts talk about many risks for the company itself due to the launch dates that would be during the first quarter of the year and for the “status” that they have worked on Facebook with some of their actions in reference to their users.
Starting with the own way of managing the data of its Facebook users, there are already several analysts who warn that this new currency that the social network wants to launch would not be well received, we also remember that its founder, Mark Zuckerberg, has not been so long ago. He passed in front of the North American court to declare on the case of the elections with Cambridge Analityca. In any case this same month the own Senate Banking Committee of the United States contacted Zuckerberg by means of an open letter in which it is required to show the operation of this new currency and the confidentiality protections that the user will have. use them.
Logically, all possible measures will be taken so that this new currency does not infringe or skip any of the current data protection laws, so in principle we should have that minimum of confidence in this new GlovalCoin. What happens is the usual in these cases and is that with companies that have not shown much credibility in terms of commitment to these “rules” as it becomes more complicated to trust them.