, the social networking giant which owns the popular WhatsApp messaging app and image-based Instagram,
is gearing up to launch a rival to bitcoin as soon as next year as it accelerates plans to diversify its revenue away from advertisingThe bitcoin-inspired cryptocurrency, reportedly dubbed GlobalCoin, is set to be rolled out for testing by the end of 2018, with plans to launch it in 2020 in up to a dozen countries around the world—Facebook is planning to more closely integrate its three most popular apps: Facebook Messenger, WhatsApp, and Instagram.
Facebook's embattled founder and chief executive Mark Zuckerberg has met with the Bank of England governor Mark Carney to discuss how a Facebook version of bitcoin might work and the risks and regulation involved, it was reported by the BBC.who has taken a vastly different approach to bitcoin and cryptocurrencies to his fellow social media CEO Jack DorseyFacebook has been known to be interested in developing a rival to bitcoin since December, with the project codenamed Project Libra.
It's thought Facebook is planning to raise money to use as collateral for its cryptocurrency while designing the digital token to keep a stable value, pegged to a basket of foreign currencies held in bank accounts. It's thought Facebook has been eyeing a move into broader financial services since hiring former PayPal president David Marcus in 2014, who also became head of the company's blockchain division.
Isn't cryptocurrency ( Bitcoin, Ripple, Ethereum, Tether etc ) somewhat built on trust? ¯\\_(ツ)_/¯
Not a rival to Bitcoin, but a mere stable coin to process payments. Cmon guys.
Facebook’s that friend with the biggest FOMO.
Who would possible touch their shit?
blindwars2010
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