Sunday, June 1, 2025
No Result
View All Result
CONTACT
First Crypto News
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
No Result
View All Result
First Crypto News
No Result
View All Result

Libra Coin: Facebook Plans June Revealing for Its Cryptocurrency

by firstcryptonews
June 17, 2019
in News
Libra Coin: Facebook Plans June Revealing for Its Cryptocurrency

The new Facebook’s cryptocurrency – likely to be dubbed Libra Coin – should be revealed later this month, said one of their managers adding that a white paper for the token would be published on June 18.

Facebook officially confirmed yesterday that the planned stablecoin will not be tied to any single fiat currency, but will instead be linked to a basket of currencies in order to prevent volatility.

Laura McCracken, Facebook’s head of financial services and payment partnerships for Northern Europe said that GlobalCoin would be revealed later this month, saying that a white paper for the token would be published on June 18. However, there are rumors that the currency will not be called ‘GlobalCoin’, but will now be known as Libra, the code name for the project.

A white paper explaining its basics is expected for release on June 18, according to anonymous inside sources.

They claim that multiple investors have been briefed on the project by Facebook and have now been given this date.

This digital token is designed to function as a borderless currency without transaction fees and will be aggressively marketed in developing nations where government-backed currencies are more volatile.

However, some experts are afraid that the GlobalCoin could be used by Facebook to spy on people’s purchases. For example, Facebook could misuse information about its users of buying habits in order to offer better targeted adverts to attract further investment from firms.

Josh Constine, tech expert and boss of gadget site TechCrunch, said:

“A better understanding of who buys what or which brands or popular could aid Facebook in ad measurement, ranking, and targeting to amplify its core business.”

If it turns out successful, the token could have a significant impact in areas around the world that currently aren’t covered enough by the traditional financial system. Facebook’s enormous reach, with more than 2.3 billion users globally, could provide a platform for marketing the token to users that other cryptocurrencies haven’t seen before.

The latest report said that Facebook boss Mark Zuckerberg recently also spoke with Gemini crypto exchange owners, The Winklevoss twins, in order to make the deal to list the GlobalCoin. Also, in order to raise $1 billion, Facebook is allegedly been talking to major payment networks Visa and MasterCard that reportedly involves a stablecoin along with a crypto-powered online payments system.

Even though some were afraid that if Project Libra succeeds, it will present a threat to the card companies, analysts think that this will not happen. Eyal Shani, a blockchain researcher at consulting group Aykesubir believes that GlobalCoin will not necessarily undermine the veteran payment networks but help them evolve in different ways.

The company is said to be working on connecting its encrypted mobile-messaging apps with Instagram regarding extending the reach of its cryptocurrency to over 2.7 billion global users.

Facebook could at first launch its GlobalCoin in India since it has 200 million WhatsApp users.

The latest reports are showing that Facebook is collaborating with third-party organizations to act as “nodes” and maintain their GlobalCoin cryptocurrency network through proper licensing procedures. Facebook is allegedly going to charge firms $10 million each to run a node for the Libra network. All node operators will be allowed to have a representation in the foundation.

The company wants to launch 100 nodes to generate $1 billion fees and these funds are going to be used to back its cryptocurrency. It seems that they are asking node operators to stake their interest and commitment, and tie them into supporting the network.

Related Posts

Atua AI Updates Workflow Logic to Support Expanding Business Demands

Atua AI Updates Workflow Logic to Support Expanding Business Demands

by firstcryptonews
May 16, 2025
0

Smarter Task Sequencing and Adaptive Automation Empower Scalable AI Deployment for Web3 Enterprises Singapore, SG – May 16, 2025 –...

Atua AI Improves Grok Integration for Real-Time Cryptocurrency Optimization

Atua AI Improves Grok Integration for Real-Time Cryptocurrency Optimization

by firstcryptonews
May 14, 2025
0

Enhanced AI Capabilities Deliver Faster Analysis, Smarter Automation, and Dynamic Financial Intelligence Across Web3 Singapore, SG – May 14, 2025...

Atua AI Leverages DeepSeek R1 to Advance Intelligent Multichain Systems

Atua AI Leverages DeepSeek R1 to Advance Intelligent Multichain Systems

by firstcryptonews
May 13, 2025
0

Next-Gen Language Model Integration Enables Smarter, Scalable Workflows Across Web3 Networks Singapore, SG – May 13, 2025 – Atua AI...

Colle AI Integrates Grok AI for Automated NFT Deployment Across Chains

Colle AI Integrates Grok AI for Automated NFT Deployment Across Chains

by firstcryptonews
May 13, 2025
0

Integration enables intelligent contract execution, metadata generation, and real-time asset movement in multichain environments Singapore, SG – May 13, 2025...

AGII Deploys Smart Detection Models for On-Chain Infrastructure Resilience

AGII Deploys Smart Detection Models for On-Chain Infrastructure Resilience

by firstcryptonews
May 12, 2025
0

New AI-driven detection systems enhance the stability, safety, and performance of Web3 networks SEATTLE, WA – May 12, 2025 —...

Colle AI Streamlines Developer Access with Smarter NFT Deployment Features

Colle AI Streamlines Developer Access with Smarter NFT Deployment Features

by firstcryptonews
May 9, 2025
0

New tools simplify contract automation, metadata control, and multichain launch processes for NFT developers Singapore, SG – May 09, 2025...

Next Post
9 Key Tools and Technologies to Develop and Test Blockchain Applications

9 Key Tools and Technologies to Develop and Test Blockchain Applications

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Arowana

The Musical ‘Jack The Ripper’ NFT Ticket Has Successfully Sold Out in Arowana NFT Marketplace

3 years ago
Time To Buy? Bitcoin Volatility is Back to the 2017 Bull Market Levels

Time To Buy? Bitcoin Volatility is Back to the 2017 Bull Market Levels

6 years ago
2022 TRON launches the latest cloud mining platform | The best withdrawal proof!

2022 TRON launches the latest cloud mining platform | The best withdrawal proof!

3 years ago
On-Chain AI Platform Atua AI (TUA) Unlocks Real-Time Intelligence With Grok xAI API Integration

On-Chain AI Platform Atua AI (TUA) Unlocks Real-Time Intelligence With Grok xAI API Integration

4 months ago
Crypto Arcade: A Bridge Between Arcade Gaming & the Blockchain Ecosystem

Crypto Arcade: A Bridge Between Arcade Gaming & the Blockchain Ecosystem

3 years ago
Facebook’s Crypto Project Is Falling Apart; eBay, MasterCard, Stripe, And Visa Bail On Libra Association

Facebook’s Crypto Project Is Falling Apart; eBay, MasterCard, Stripe, And Visa Bail On Libra Association

6 years ago

First Crypto News

First Crypto News

First Crypto News is the Fastest Crypto News Portal. We Bring the Best and We Bring it Fast.

Bitcoin

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

June 21, 2021

Recent News

Atua AI Updates Workflow Logic to Support Expanding Business Demands

Atua AI Updates Workflow Logic to Support Expanding Business Demands

May 16, 2025

Press Release

MoonLad Launches: A Meme Token with Purpose, Utility, and Community on the Solana Blockchain

MoonLad Launches: A Meme Token with Purpose, Utility, and Community on the Solana Blockchain

May 31, 2025

© 2020 First Crypto News

No Result
View All Result
  • Home
  • World
  • Science
  • Tech

© 2020 First Crypto News