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Blockchain: Facebook’s ‘GlobalCoin’ cryptocurrency is coming in 2020, report claims

Blockchain:

Social networking giant Facebook is about to launch a cryptocurrency of its own in the first quarter of 2020, the BBC claims

The cryptocurrency, internally called GlobalCoin, will launch in about a dozen countries, with testing commencing by the end of this year. 

SEE ALSO: Facebook’s cryptocurrency plans may be more ambitious than we thought

We’ve heard reports that Facebook is working on something crypto-related for about a year, ever since the company assigned its head of Messenger, David Marcus, to a blockchain-focused role in May 2018. But a recent report shed more light on the project (which, according to Facebook, boils down to a “small team” that’s exploring “many different applications” of the blockchain) — apparently, Facebook plans to launch a global, crypto-based payment, and e-commerce system.

The BBC’s report doesn’t reveal many additional details about the project — the most important bit is the timeline. According to the report, Facebook has already spoken to Bank of England governor Mark Carney about the project, as well as the U.S. Treasury. Official news about the project, BBC claims, might come as early as this summer. 

We’ve contacted Facebook regarding the report and will update this art

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