Facebook Plans to Launch Cyrptocurrency Under the Name GlobalCoin
- Technology major Facebook is planning to launch its own cryptocurrency, in early 2020, which is likely to be named GlobalCoin.
- The cryptocurrency is being launched by Facebook under its Secret project “Project Libra” and will require around $1 billion in funding to support the project.
- Mark Zuckerberg owned social media giant may start its testing by the end of 2019. Initially, the currency would be launched in about a dozen countries.
Some Major Features of GlobalCoin
- Users can use the currency even if they don’t have a bank account.
- GlobalCoin could be used to buy things on the Internet and in other outlets, or even to transfer money to another user.
- Facebook users will be able to change dollars and other international currencies directly into its digital coins.
- Users could transfer the cryptocurrency using mobile-messaging app WhatsApp