Facebook, one of the world’s largest social media platforms , has been coming up with news that it will launch its own crypto currency since the beginning of 2018, and according to many experts, David Marcus, the head of the department with the blockchain department established by Facebook, is actually directly focused on producing a crypto currency.
We have recently reported that Facebook has been talking to Coinbase and Gemini crypto money exchanges and that the crypto currency in question could be called para GlobalCoin. Read related news here . While some of the crypto money sector is of the opinion that the crypto currency of the social media giant will be beneficial for the ecosystem, a large amount of it can be underestimated that this may harm both Bitcoin (BTC) and other crypto currencies and may cast a shadow on the center.
Facebook Will Contribute to Crypto Money Ecosystem
Billionaire investor and former Goldman Sachs executive Mike Novogratz told CNBC on May 24 that Facebook was’ very important ”for the crypto-money ecosystem, and that contrary to popular opinion, GlobalCoin would add value to the decentralized world of crypto money.
“Facebook is wildly important for the ecosystem” – @novogratz on #cryptocurrency “Bitcoin is not going to be a payment currency. Bitcoin is going to be a stored value just like gold.”
22:56 – 24 May 2019
In spite of all these, the problems that Mark Zuckerberg had previously experienced in relation to privacy reveal the possibility that GlobalCoin will not contribute as much as expected.