GlobalCoin coming to Twelve Countries
Facebook, the social media giant, has finally detailed their rollout plans for GlobalCoin. Their upcoming cryptocurrency is expected to launch in twelve countries by the first quarter of 2020. This payment system is managed through Facebook’s WhatsApp and Messenger Platforms. Retail clients that opt to use this upcoming service can trade and send money through these messaging service. Ensuring that this service remains in the legal boundaries of these twelve jurisdictions, Facebook has elected Mark Carney to govern over the crypto coin. The former governor for the Bank of England and United States Treasury will overcome any curdles regarding “Project Libra”. It’s estimated that Mark Carney will provide more insight into the future of GlobalCoin in the coming weeks.
The Libra Association
Facebook plans to create the world’s first global digital currency and create a new market space that is monopolized through their new subsidiary “Calibra”. This is a significant task to accomplish, which is why numerous other companies are working with Facebook and GlobalCoin to bring this project into fruition through the Libra Association. This association comprises of PayPal, Visa, MasterCard, Uber, eBay, Spotify, Lift and Vodaphone. Additionally, Calibra has already connected with numerous blockchain exchanges that’ll support GlobalCoin. These include Anchorage, Xapo, CoinBase, CoinMarketCap, CryptoCompare and BisonTrails.
Getting the backing of all these professional companies has allowed for GlobalCoin to soar in popularity before it’s even available. PayPal has eagerly supported this upcoming cryptocurrency publicly, as they hold the most significant investment into the Libra Association. It’s estimated that the PayPal service will coherently work with GlobalCoin by Q1 2020. Additionally, it’s estimated that other members in the association will maintain special promotions with this cryptocurrency in the Libra Association. This means there could be unique Crypto-Enabled Credit Cards in the future.
The Libra Network
Calibra, the Libra Association and Facebook have collectively been hard at work to create the “Libra Network” through Geneva Authorities. This upcoming network is slated to offer technological, financial services that relate to software and hardware components with GlobalCoin. It’s estimated that this network is looking for an additional $1 Billion investment funding through the Libra Association members. However, there hasn’t been any official confirmation that Calibra is having a funding round for the Libra Network.