Analysis: Facebook's GlobalCoin may change the foreign exchange and remittance industry

Finance Magnates previously reported that Facebook's cryptocurrency may change the foreign exchange and remittance industries. Because if implemented properly, it can easily be used as a fast, inexpensive currency value transfer tool. Juris Project CTO Konstantin Brazhnik said, “In the United States, we believe that legal tender is taken for granted. After all, it is the de facto global reserve currency. However, as long as they step out of the US border, they will feel the global currency along with the market and political power. The pain of volatility. Facebook or Telegram has the potential to eliminate these fluctuations, and consumers will flock to avoid uncomfortable and outdated legal currency exchange practices.” If GlobalCoin successfully obtains the support it needs, it can be easily paid and cashed. It may become the actual cross-border currency in most parts of the world.