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Facebook’s highly anticipated cryptocurrency, currently known as GlobalCoin, will go live in the near future. Speculation has been building ever since Facebook formed its blockchain division last year, and the coin is now closing in on a launch date. Facebook could release GlobalCoin before the end of the year, and it is very likely that Facebook will make an official announcement by June 18th. But one question remains: what will GlobalCoin be used for?
Facebook has over 2 billion users that could instantly be onboarded to a new payment platform, and it is a safe bet that Facebook will allow its users to send GlobalCoin to each other. It is also likely that GlobalCoin will be a stablecoin, meaning that its value will be tied to the value of the U.S. dollar or other fiat currencies. This means that most users will find GlobalCoin more convenient than Bitcoin, which is subject to rapid price fluctuations.
Reports from last year suggest that Face...
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