Facebook wants to market their own cryptocurrency aggressively in developing countries

Facebook is, apparently, shortly before the publication of his own crypto-currency. Insider reports against the US-American media portal The Information of the ambitious plans of the Social Media giants – including your own "money machine".

By Christopher clover
6. June 2019BTC$7.697,00 1.02%part Facebook Twitter LinkedIn xing mail

The Social-Media-group-Facebook could according to media reports, already in this month officially launched its own "crypto currency" is now available. The alleged Stable Coin bears according to insider reports, the work name "GlobalCoin" and to go to the end of 2019 in the test phase. So far, the group has not yet officially to his crypto-ambitions known; all information about GlobalCoin and "project Libra" is based on information from anonymous insiders. But that could soon change. At least if you trust anonymous sources, once again, Believe.

caution: Paywall), the California-based media company The Information reported (that Facebook will end its deafening Silence in the course of this month. Here, The Information refers to the information of over a dozen people who want to be privy to Facebook's crypto-plans.

Facebook Coin targets on developing countries

After that, Facebook apparently plans to realize the control of its crypto-currency at a very low level to subtly. For this, the company got ensnared in the past few months, various actors from the financial and technology sector:

In the last months of the social network of dozens of financial institutions and other technology has been campaigning for an independent Foundation to connect the capital to contribute, and will help to govern the digital currency,

The Information, citing his twelve on the inside. To should its launch, the network of the "GlobalCoin" 100 network nodes (Nodes). Thus, the network would be considerably more centralized than, for example, the Bitcoin network with currently almost 10,000 Full Nodes – what should surprise you the least.

the crypto currency of Facebook aims seem to have been on the market in developing countries.

The digital Token, the Facebook expected later this month will introduce, is to function as a limitless currency without transaction fees, and is aggressively marketed in developing countries, where government-supported currencies more volatile.

So Facebook would be in direct competition with other payment systems – and above all, Stellar also focus particularly on "structurally weak" regions.

First of all, the Integration of the Facebook Coins in the Apps, Messenger, and WhatsApp provided. In addition, physical "ATM module" to Facebook's crypto strategy.

It is getting cuddly in the Payment sector for traditional financial institutions and service providers, it is almost tight.

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