Facebook Revealing Cryptocurrency Plan This Month! According to The Information on Wednesday, Facebook is set to unveil the plans for its token, called GlobalCoin, later this month.
GlobalCoin is apparently aimed at allowing users to make transactions via the social media platform – Facebook employees might also be offered an opportunity to be paid in the cryptocurrency. Facebook may also set up physical ways to purchase the cryptocurrency.
Facebook plans on inviting external parties to participate in supporting the network as nodes – although there are rumors that the fee would be as high as $10 million for the privilege.
This is days after rumors that Facebook had begun conversations with the CFTC, as well as global payments providers, crypto advisers, and regulators.
GlobalCoin is slated to launch in 2020 and trials are planned to begin starting at the end of this year. Facebook has been playing the long game – hiring former PayPal president David Marcus to oversee its Messenger app in 2014. He then transitioned to his new role as Head of Facebook’s Blockchain Initiatives in May of last year.
What do you think? We use Facebook, and chances are, you do too. Do you plan on using GlobalCoin? Let us know on our Facebook page!