Analysis: Facebook's cryptocurrency project may face major obstacles

According to Coindesk, Facebook's GlobalCoin project may face significant obstacles. Although there are reports that Facebook is preparing to announce its new cryptocurrency as early as next week, a source familiar with Facebook's operations said that the project's software still has a long way to go before it can be put into use. The source attributed the delay to existing companies in the blockchain industry who were reluctant to engage in projects that did not appear to have real cryptocurrency characteristics. A source estimates that the beginning of 2020 will be a more realistic test timeframe, so any upcoming announcements are only forward-looking plans.