That's right, as we explained in the announced short of this news, the well-known Mark Zuckerberg's company is working on its own cryptocurrency and it will be called according to the first rumors and leaks that have reached the network: GlobalCoin.
The fact is that Facebook's plans are short-term and it seems that this virtual currency could be officially presented during this year 2019 to be ready in the early stages of 2020. Really This possibility has been talked about for a while on 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 currency and the one known by the code name as Proeject Libra for WhatsApp, a virtual currency with the dollar, the Yen and the Euro as support not to convert 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 applications of the social network. The fact is that «Credits» stopped being in operation in 2012 for 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 overshadow or compete directly with the already known BitCoin and the like, but also to compete with PayPal since if they manage to get in line with online merchants to accept this currency (at the moment they would be negotiating) It will be used to make payments and online purchases.
First tests in countries like India
It seems that thanks to WhatsApp the company would begin to carry out tests in countries in which 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, in which there are more than 1.600 million users of the app so it can be a perfect test bed.
The places where you are thinking of implementing this Facebook coin from the beginning are unknown, although it is clear that they have to be places where many users have the ideal profile to make these payments with GlobalCoin, so it is clear that it will not arrive first. to all countries and it will be implemented little by little.
Official launch date for this GlobalCoin
The truth is that we walk on rumors and although more and more media are uncovering the possibility of launching this Facbook cryptocurrency, there is no official date on which it can be said that it will be on the market. What we do have more or less clear is that this digital currency can go into operation during the first months of 2020 and is that even as he could know BBC News There are already meetings with the Governor of the UK Bank, Mark Carney, to discuss the opportunities and risks of having a virtual currency.
This is a clear indication that events are accelerating to the maximum to be able to begin to test or take the first steps in several countries at the end of this year, some time after it was officially presented last summer. But nothing is officially confirmed on the part of Facebook so it will be time to follow the rumors and leaks little by little for the official dates.
Doubts about this coin and its services?
Specialized analysts speak of many risks for the company itself due to the launch dates that would be during the first quarter of the year and due to the very "status" they have forged on Facebook with some of its actions in reference to its users.
Starting with the very 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 not so long ago that its founder, Mark Zuckerberg He passed before the American court to testify on the case of the elections with Cambridge Analityca. In any case, this month the United States Senate Banking Committee itself contacted Zuckerberg through a paper communication in which requires you to show how this new currency works and the confidentiality protections that the user who uses them will have.
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 that is with companies that have not shown too much credibility in terms of commitment to these "standards" it becomes more difficult to trust them.