Facebook is allegedly working on a cryptocurrency called GlobalCoin and could be eyeing a Q3 release date. Although sources from Facebook have declined to comment on developments, several details about this intriguing project have been leaked over the past year. What can weexpect from Facebook rumored cryptocurrency?
Facebook's cryptocurrency will be called 'GlobalCoin'
According to sources familiar with the project, Facebook's new cryptocurrency will be called GlobalCoin and will have a range of applications. This new digital token may be used to transfer value between Facebook users or as a reward system from advertisers to users who engage with certain content.
Facebook has acquired the trademark 'Libra'
The coin is being developed by Facebook's internal blockchain project, called Project Libra, and will be a stablecoin that is pegged to the U.S. dollar. We know that Facebook has registered the trademark Libra, and some details have emerged about the composition of this team.