FIRST IT CAME FOR YOUR DATA, now Facebook might be coming for your money, as rumours claim the social network's own cryptocurrency might be cranked out this month.
Apparently, loose-lipped types with knowledge of Facebook's crypto machinations blabbed to The Information that the social network's digital cash will show up in late June.
Supposedly called GlobalCoin - we'd have gone for Zucker-bucks - the cryptocurrency will be used to facilitate all manner of payments across a range of countries and might even be legitimate tender in real-world stores.
Facebook is apparently keen to push its virtual moolah as a currency that bypasses transaction fees when being pushed from nation to nation. And it'll be targeting developing nations where government-backed currencies are more volatile; presumably due to having despotic rulers.
The social network is keeping tight-lipped about the whole thing and has said diddly-squat to confirm or deny the rumours. As such, we reckon it could have plans to test its cryptocurrency this month and then build up to a bigger roll out if things don't go belly up.
Some point in 2020 was previously slated for the launch of the cryptocurrency. And we suspect that might still be the case when it comes to spreading GlobalCoin, er, globally.
Given the whole Cambridge Analytica data scandal and other Facebook foibles that have popped up in the last year or so, you'd be forgiven for thinking the social network is the last place you'd want handling your money, digital or otherwise.
But Zuck and pals will cede control of the cryptocurrency to outside firms in order to make sure it's decentralised like Bitcoin and garners the trust and reassurance of financial regulators.
All this is based on rumours and hearsay, but don't be surprised that come 2020 you'll be able to buy all sorts of stuff through Facebook Messenger, Instagram and WhatsApp with digital coins sporting Zuckerberg's mug, robot-like stare and all. µ
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