My first post, To start off I'd like to indroduce myself.
Hi I'm Webwise, a cyber analyst who spends most of the time researching online for the latest movements.
We now have a race for the universal currency of the Internet.
"Globalcoin".
On May 2, Facebook registered a new entity called "Libra Networks" in Geneva, which will provide investing, payments, financing, identity management, analytics, big data, blockchain and other hardware and software technologies.
Facebook reaches more than 2.2 billion people for its core social network, 1.5 billion for WhatsApp, 1.3 billion for Messenger and a further one billion via Instagram.
Providing a future crypto token with exposure to these three services each month would then merge the messaging infrastructure under one platform.
The social media giant is in talks with all major payment networks such as Visa and Master Card, that will enable people to change dollars and other international currencies into its digital coins.
The stable coin is looking to raise around $1 billion for the crypto-project which could be pegged to a basket of established currencies, including the US dollar, euro and Japanese yen.
The crypto research team is expected to be headed by David Marcus, the ex-PayPal president & ex-member of Coinbase, board of directors.
Facebook are Hiring
We have established a new team exploring different ways to leverage blockchain technology to improve the lives of people around the world. It's a small, fast-growing, and talented group of people and our experienced leadership team comprised of some of the best professionals in their respective fields. The blockchain team is a startup within Facebook and we're exploring lots of areas of interest across all facets of blockchain technology.
Dubbed "Globalcoin" which is expected to be launched in a select few countries by the first quarter of 2020.
Alibaba
A report by the Securities Daily News revealed that Alibaba had applied for over 262 blockchain patents.
One of the applications was for a Blockchain-backed system that allows third-party administrative interference in smart contracts.
On May 18th, Globalcoin.com was registered to Alibaba Cloud Computing (Beijing) Co., Ltd.
Alibaba Cloud is a member of the Hyperledger community which enables organizations to build more robust blockchain solutions for industry-specific applications, hardware systems, and platforms to support enterprise-grade processes working on open-sourced distributed ledger frameworks
Alibaba’s head of cloud application service YI Lí said
"Alibaba Cloud’s Blockchain as a Service (BaaS) is dedicated to providing a worldwide beneficial and trusted infrastructure".
Alibaba Cloud is one of the top three laaS service providers in the world and is looking to provide the best possible service to their customers.
Liu Song, the vice president of Alibaba Group revealed the company’s plans to deploy Blockchain solutions for cross-border supply chains. He cited that this will be done with the possibility to link the Blockchain with local governments.
Alibaba partners with Aerospace Information Co., Ltd
Aerospace Information is well-known in China for its software for anti-counterfeit tax-control invoicing. It also provides intelligent decision-making solutions that help companies transition from traditional manufacturing to smart manufacturing. It is hoping to better streamline this process through Alibaba’s Cloud Blockchain-as-a-Service (BaaS) system.
Liu Song said that Alibaba's positioning of the Industrial Internet is a platform that provides enterprises with combinations of technology such as cloud computing, big data, artificial intelligence and blockchain.
The two firms will be working together to bring blockchain, cloud computing, and other smart technologies to small and medium-sized enterprises. They will also be focusing their efforts on simplifying taxes and finances for government authorities, as well as enterprises, with the help of automated blockchain-based systems.
One of the goals of the partnership is to merge the internet with government services. This will mainly be done through cloud-based networks which will rely heavily on blockchain technology. For enterprises, the two companies plan on coordinating the implementation of credit reporting and mobile office services.
Is this a merger or a race for dominance.
What are your thoughts on the globalcoin?
Thanks for reading.