There is now a name for the cryptocurrency-based payment system that Facebook is planning to debut in 2020 and it is called as GlobalCoin. Indeed, as the name suggest, it would be available globally (well maybe except China, Russia, Iran, North Korea and nations USA is not doing business with) starting with some hand-picked countries. Right now, the team established by Mark to tackle on this project has been communicating with some people involved with regulatory matters to thresh out things so they can start the trial maybe within this year.
With the Facebook empire at the helm and behind the GlobalCoin, people are getting excited and there are now many big investors lining up to be part of the funding circle hoping to snatch part of the estimated $1 billion the project is looking for. With Mark having the Midas touch, investors are thinking that this can be another opportunity of a lifetime. I am not sure though if Facebook will decide to also open the crowdfunding with small investors like in the trending IEOs we have today.
Wow! And of course, there will always be critics of this move by Facebook to join the cryptocurrency craze. There are objecting that what Facebook is getting into is not decentralized and hence can not even be called as genuine cryptocurrency akin to what we see in Bitcoin, Ethereum and the rest of the gang.
Now, considering all of these things and the very big potential of this Facebook project called as GlobalCoin, do you think that soon we can see Mark Zuckerberg not just the emperor of the social media but also the king of cryptocurrency? Or you think that this should be treated just like a normal (though it is very big) project which might also go wrong if the market will not be responding positively? What is your opinion with the foray of Mark into cryptocurrency and will Globalcoin one day be a rival to that of Bitcoin?
Mark Zuckerberg was a guy everyone like his invention in terms of social media which I believe that reputation will give him chance to get many support from varities of invest but we're talking about crypto currencies here not social media.
I once said it in some of my previous post that crypto market have changed and how a certain coin will survive in the market are not measure through thr hype, concept, TPS and previous record for it measure through the attribute I mentioned bitcoin wont have be the top coin till date.
Therefore, i dont see the coin in subject as a rival to bitcoin.
