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Cryptocurrencies

Cryptocurrencies are money, not equity

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Cryptocurrencies taking money

Postby Kazigami В» 15.01.2020

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F irst it had your friends, then it had your pictures, then it had your diary. Now, in the latest effort to entwine its systems still further into the everyday lives of its users, Facebook wants to get into your wallet. On Tuesday, the social media behemoth is expected to reveal its own cryptocurrency, which has variously been called Libra and GlobalCoin. However, unlike other cryptocurrencies, the new creation will not have been founded in the spirit of libertarianism, outside the backing of established, conventional authorities.

Instead, it appears to have the endorsement of more than 12 corporations, from Uber to PayPal, Visa and Mastercard. Since they have risen to prominence over the past decade, cryptocurrencies have conjured up visions of a wild west of finance, where values fluctuate wildly and terrorists and drug dealers come piling in. Another indication that the Facebook currency will be different from its predecessors is the fact that it will be pegged to a number of government-issued currencies, in a bid to avoid the vast value fluctuations that have dogged other digital currencies.

The currency can then be used to buy goods on the internet — and in shops and other outlets — or to transfer money, without the need for a bank account. It is expected that Facebook will aim to shatter the poor image of cryptocurrencies, which were initially widely used by criminals to make transactions on the dark web.

Reports also suggest that hotels website Booking. It is expected that Facebook will release a briefing on the new cryptocurrency this week. Facebook is also looking at paying users fractions of a coin for activities such as viewing ads and interacting with content related to online shopping, in a system similar to the loyalty schemes run by retailers. Topics Facebook Observer business agenda. Cryptocurrencies Mark Zuckerberg Social networking E-commerce comment.

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Postby Kalabar В» 15.01.2020

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Postby Tygohn В» 15.01.2020

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