We all know Facebook have been developing it own Cryptocurrency coin for a while now, and the company seems to be ready to join the coin league with it’s upcoming coin codename “GlobalCoin”.
Facebook GlobalCoin aims at providing users an affordable and secure means of making payments using crypto. Users can simply exchange coins without a having a bank account. Facebook is reportedly in talks with money transfer firms like Western Union to streamline the process and make it easy for people to send and receive money on it platform.
Facebook will also be working with brokers and banks to enable users to change international currencies into Facebook digital coin. The Globalcoin will eventually become the major mode of payment on with lower transaction charges.
Also, users will be able to send and receive money using WhatsApp once the coin rolls out according to reports.
Facebook GlobalCoin will be rolled out next year but looking at the whole privacy scandals the company has faced in the past few months, the question remains, will people trust Facebook enough to exchange their cash for digital coin?
