Facebook's Digital Currency Coming This Month
It’s no secret that Facebook is developing cryptocurrency or digital currency. However, it looks like this currency will arrive sooner than previously thought.
As Dafunda Tekno quoted from The Verge, Monday 10/6/2022 Facebook is rumored to be releasing a currency this month, right on 18 June. Facebook previously said it would launch the digital currency globally in 2022.
According to The Informant’s report, in the future, Facebook employees who work on the project called Libra will choose to be paid with tokens cryptocurrency instead of using cash.
Facebook previously gave the name of the digital currency as GlobalCoin, but these rumors were denied through the latest news this time. However, there are other rumors that say this currency is a ‘Stablecoin’.
As is known, Stablecoin is one of the digital currencies that has been determined the same value as the US dollar, Euro and Yen. So that the value is more stable and does not fluctuate like ordinary money in general.
Besides being able to be used to pay salaries of its employees, Facebook also wants to target this currency to be used by developing countries where there are still many people who do not have bank accounts. It is also hoped that later users of Facebook-owned services such as Messenger and WhatsApp can send this token without having to spend a dime.
Later, the company owned by Mark Zuckerberg will also provide physical facilities that are almost similar to ATMs, where they can convert traditional money into cash crypto.
Facebook seems well aware of their bad reputation these days and they will set up an independent regulatory body for businesses to regulate their digital money. Facebook also makes offers for third-party organizations to manage the digital currency.