One of the most influential social networks ever: Facebook has predicted the launch of a new cryptocurrency for the arrival of 2020. The cryptocurrency will be called Globalcoin, according to BBC reports.
According to the information channel, the name Globalcoin this is what is currently being used among the employees in the sector in the company to be able to define digital currency. So the name is not the definitive one but one thing is certain: the currency will see the light next year. During 2019, in fact, there will be a test phase that will end at the end of the year.
Mark Zuckerberg reported to the BBC, who held a meeting with Mark Carney the Bank of England director last month about the new cryptocurrency. The meeting allowed him to discuss the risks associated with the launch and opportunities of the new cryptocurrency. The company also asked for the US Treasury advice as far as nature is concerned, it is regulatory and managerial, especially for procedures such as identity identification and to avoid money laundering problems.
In the report Facebook is revealed is also discussing with Western Union a provider of payment services, in this way can allow cheap and fast money transfers to individuals without however giving direct access to banks.
The new cryptocurrency that is about to be launched by Facebook therefore it can eliminate financial barriers and reduce costs also for consumers. However, in order to achieve this goal, the company must necessarily collaborate with banks all over the world.
By December last year, the first rumors had been heard about Facebook's desire to create his own cryptocurrency. Further news then confirmed that this would be one stabelcoin to be anchored to traditional money. To issue it, the company also revealed that it has started negotiations with popular payment networks such as MasterCard and Visa.