Facebook could launch its own cryptocurrency 'as early as next year'
Chief executive Mark Zuckerberg met Bank of England governor Mark Carney last month to discuss the plans, according to the BBC .He is also thought to have spoken to the US treasury and firms such as Western Union, to develop an affordable way for people to send money between each other. GlobalCoin testing will reportedly kick off at the end of the year ahead of a slated roll-out to about a dozen countries in the first three months of 2020.
SEE ALSO :Facebook curbs research toolBack in 2009 it launched Facebook Credits, which could be used in multiple games and applications to make in-app purchases, with Facebook retaining 30% of revenue. But the system failed to take off, and was discontinued in 2013. This new effort would reportedly go beyond the digital world, allowing users to buy goods and services in the real world. It would be pegged against an established currency, such as the US dollar, the euro and the Japanese yen, for stability, the BBC reports. However, the US Senate and Banking committee has expressed concern about reports of Facebook entering the digital currency business.
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