BBC: Facebook will launch its own cryptocurrency in 2020

GlobalCoin will begin testing at the end of 2019.

Facebook is preparing to launch its own payment system and cryptocurrency in the first quarter of 2020. this . reported The BBC

According to the publication, the company will present the first details in the summer of 2019. At launch, the GlobalCoin currency will be available in several countries. Facebook users will be able to make payments without a bank account. The cryptocurrency will be tied to the reserves of regular dollars.

In 2018, Facebook CEO Mark Zuckerberg consulted with Bank of England Governor Mark Carney about a new cryptocurrency. The company also discussed legal issues with the US Treasury and the Western Union transfer service.

Facebook cryptocurrency first became known in May 2018. Then the company created a working group to study blockchain technologies, led by former PayPal CEO David Marcus. In the summer, the social network allowed advertising of cryptocurrencies, but left ICO advertising prohibited.

The Verge suggested that Facebook has a lot of work to do to get users to trust GlobalCoin after scandals that undermined the social network's reputation.

#news #facebook #cryptocurrency