Who says cryptocurrency will fade away soon? It is here to stay for good and Facebook is also working tirelessly to get its own portion from the market share with the upcoming coin codename “GlobalCoin”.
GlobalCoin from Facebook will be launching next year 2020 and its aim to provide users an affordable and secure way of making payments. Users don’t need to have a bank account to use the coin. The company is said to be in talks with money transfer firms like Western Union to streamline the process and make it easy for people to send and receive money.
How Globalcoin will work
Facebook will be working with brokers and banks to enable people to change international currencies into Facebook digital coin. Since the social media giants have billions of users, Globalcoin will be a major mode of payment with lower transaction charges.
The project will see it join forces with banks and brokers that will enable people to change dollars and other international currencies into its digital coins.
You’ll be able to send and receive money using WhatsApp once the coin is launched according to reports.
Facebook Coin is expected to be launched next year but a big question is here, can Facebook be trusted enough to exchange their cash for digital coin?