Facebook GlobalCoin: Facebook plans to launch its own digital currency in the first quarter of next year, according with BBC News.
The company is expected to reveal more details about the currency this summer before launching the tests later in 2019.
The coin, which is referred to internally as “GlobalCoin”, will reportedly be available in about a dozen countries at launch, and is expected to offer users affordable and secure payments without the need for bank accounts.
The upcoming digital coin (Facebook GlobalCoin) will have to overcome many technical and regulatory obstacles before it can be released publicly.
According to BBC News, Facebook CEO Mark Zuckerberg last month met with Bank of England Governor Mark Carney to discuss the opportunities and risks of the planned digital coin.
However, Facebook may face more difficulties in India, which has adopted a very hostile one attitude against virtual currencies.
For India, the upcoming Krypto-Coin is referred to as an opportunity, as Facebook hopes to allow Indian people working abroad to send money to their homeland using the application Whatsapp.
The company has already held talks with the US Treasury, as well as money transfer companies such as Western Union, to make business and regulatory issues on encryption.
At first we heard about Facebook's ambitions last May, when it was mentioned that David Marcus, who was previously on Coinbase's board and president of PayPal from 2012 to 2014, led the new division blockchain the company's.
Reports suggest that the currency could be designed to be a "fixed coin", with a value pegged to the US currency in an effort to minimize its volatility.
However, even without the instability that we find in most digital coins, Facebook will have to make a lot of effort to acquire the users who trust GlobalCoin since any new scandal would blur the public image of investors.
