What impact will Facebook have on the currency circle?

Facebook wants to send coins!

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Facebook's admission may detonate the bull market!

When the news of Facebook “issuing the currency” came out, the currency circle shook, and various questions from investors came one after another, because this melon is really too big. Domestic users may not know about Facebook. For some reason, we can't use Facebook. Simply put, Facebook is an overseas social software, including its WhatsApp social software. The Facebook ecosystem has more than 2 billion users. More than Tencent WeChat. Therefore, Facebook's incoming cryptocurrency is of course worthy of attention, but not what everyone thinks.

Facebook "sending money" is what is going on?

For the friends of the traditional investment circle, Facebook “coin” is a little unbelievable. Is “sending money” not a flickering thing? Facebook is doing this?

Although Facebook is a global social giant, its revenue source is very simple, almost relying solely on advertising revenue. In order to “self-help” , Facebook takes the characteristics of the global social platform and uses cross-border payment as the just-needed, and the cryptocurrency is issued according to the network. Financial-related business, after all, the ability of Alipay, WeChat and other payment portals to develop business in a very broad scenario has been proven.

Why doesn't Facebook directly make a "Facebook Pay" like Alipay? It's too hard to have a very mature payment system, and there is more than one enemy, so the digital currency is Facebook. And the special path of the payment field, you can also take full advantage of Facebook.

As a result, Facebook launched the "coinage" campaign. A white paper is scheduled to be released on the 18th of this month. The project code is Libra, and its official name for digital currency is “GlobalCoin”.

So is "GlobalCoin" worth investing?

First of all, we must understand that "GlobalCoin" and our fried coins are two concepts. In essence, "GlobalCoin" is a stable currency and a stable currency that anchors multinational corporations. The purpose is to cross-border payments, to facilitate the exchange of national currencies, to achieve cross-border payments at a stable price, and there is no commodity attribute.

For a domestic example, Alipay balance and WeChat change are essentially stable coins, or intermediate currency. Facebook just turned the money into a digital currency, a mapping of French currency on the blockchain, and it has no hype value.

In addition, "GlobalCoin" is highly centralized. Facebook accepts third-party nodes, but it needs to pay $10 million to become a node operator. This money will be used as one of the sources of "GlobalCoin" reserves. The node operator is responsible for verifying the "GlobalCoin" token transaction and obtaining network governance rights, and obtaining a certain return interest from it.

Facebook has decentralized "GlobalCoin", but it is still highly centralized compared to cryptocurrencies such as Bitcoin and Ethereum. It is said that EOS is centralized, and "GlobalCoin" is far more centralized than EOS.

Ask, will you go to speculate on a highly centralized stable currency?

So "GlobalCoin" has a real impact on the currency?

Since "GlobalCoin" is a stable currency, is it related to the currency circle? No, the relationship is great.

1. Facebook has more than 2 billion users worldwide. Almost one of every two netizens is a Facebook user. Once the public is more willing to accept the digital currency, it will affect more people into the encryption era, which will stimulate more people to compare. Interest and investment in special currency. After all, currency such as Bitcoin is the decentralized cryptocurrency in the true sense.

2. In order to provide access to Bitcoin, if Facebook's stable currency is opened for trading with BTC and ETH, it is equivalent to obtaining a deposit channel all over the world. The deposit channel is what the people of the coin dream of, and Facebook's large user volume itself carries a huge amount of money.

3. Recognizing the blockchain technology, “GlobalCoin” is a stable currency, but it is a real blockchain digital cryptocurrency. Facebook is the world's largest Internet social giant, entering the cryptocurrency, which is the blockchain. The biggest affirmation of technology, isn't this the big profit of the currency circle?

to sum up

Facebook has almost half of the Earth's Internet users. The launch of Facebook's cryptocurrency will affect more people into the era of encryption, and will allow more traditional technology finance companies to enter the field of encryption.

If the last bull market puts Bitcoin into the mainstream, the task of the next bull market is to bring most of them into the market.

Author: Laughing Rock

Source: Block wave