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Facebook’s “GlobalCoin” launch planned for 2020

24 May 2019 : 17:19
< 1 min read

Facebook’s all but confirmed cryptocurrency project, looks to be released to a dozen countries during Q1 of 2020, according to a report from the BBC. Facebook will look to release more details of the coin during the upcoming months. This comes after reports that Mark Zuckerberg met recently with Bank of England governor Mark Carney, to discuss “Project Libra“.

The idea behind the currency is for people, many of which do not have access to traditional bank accounts, to be able to send payments in a safe, cheap and efficient manner. It is highly likely that the service will, in some form be integrated into the Facebook-owned Instagram and WhatsApp platforms.

Whilst this should be considered as positive news for the crypto space, Facebook’s controversial history with user data and privacy will unquestionably create concerns for many. Should they be able to clarify their exact stance and intent behind the project, and restore user’s faith, GlobalCoin may well become a global revolution.

Image licensed via Shutterstock

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