Facebook today is one of the best social media platforms today. This platform is connecting millions of people. If you observe social media platform usually plays a vital role in every transaction people will have. Facebook announces that there will be a launching of cryptocurrency by the first quarter of next year. It supposes to extend affordable and secure payments without the requirement for a bank account. Facebook continues to launch its own cryptocurrency, for the convenience of the people, it will be named as GlobalCoin. Most consumers will able to Buy GlobalCoin by 2020.
GlobalCoin will be nothing more than an added fiat-pegged steady coin, which is unremarkable. The coin’s original power appears in the network outcomes that can be leveraged to arrange the currency into the hands of billions, including Facebook users who don’t have bank accounts. The benefits this could deliver to Facebook-loyal consumers, who can seamlessly manage the coin in-app to pay friends and buying goods, are important. This great new trove of data will bring Facebook at more greater level.
Advantages of Using Blockchain Based Digital Payment
Convenience & accessibility
Customers no longer require to carry cash or visit an ATM. In fact, they don’t even require to be physically present to give. Customers can pay anytime from any portion of the world.
Privacy and Decentralization
Blockchain payment system enables you to maintain the privacy of your transactions as its decentralized system. All transactions are abstract and not available for any 3rd party authority.
10 Interesting You Should Know About the Launching of Facebook or GlobalCoin
1. Send Money Without a bank account
Today’s way of sending money is easier than before but there are some instances that because of every policy a software has, the transaction can affect. This can lead to a bigger issue with it comes to this matter. There are a lot of people who are using today the power of cryptocurrency that helps us to make every money transaction faster and easier.
Thus, Facebook is the key for this kind of issue in the world and this is so called Facebook’s GlobalCoin. This is far different from the other digital payments that can be found online. At GlobalCoin, people who don’t have their own bank account can use the currency. One of the biggest advantage of this digital payment system for the consumer today. This will help them to have their transaction in much easier and faster ways.
2. Convert into any Local Currencies in the World
Another is that every consumers or user of this facebook’s GlobalCoin can experience the perks of it and have the freedom in using this digital payment. Users will be able to change into whatever international currencies they wish for into its digital coins. The best thing about every digital payment today is that it can make every money faster to change than before. When you Buy Global Coin you will experience the same
3. Making Buy & Sell Unique all over the world
A lot of people prefer to use digital payment in buying foods, clothes and other things online, it is more convenient to use and accessible as well. Thus, this GlobalCoin will enrich the resources of the people in choosing the best digital payment software. The GlobalCoin can also be used in buying stuff on the internet, paying tickets on concerts and transferring money over the internet and many more.
4. Quick transfer using IM like Whatsapp
Another big factor is that it can permit people to send money through Whatsapp by using this Facebook GlobalCoin. This facebook GlobalCoin work for the digital currency project that will enable users to transfer the cryptocurrency using a mobile messaging app like this WhatsApp.
5. Powerful for the Online Gaming Industry
Online games are more interested if there are bonuses that can help them to motivate them in playing. Likewise, every software is more interested when you can use it for earning also. In connection to this, Facebook also has projects at paying users parts for actions such as viewing ads and combining with related to online shopping, comparable to loyalty schemes run by retailers.
6. Lower Transaction Fees
Digital payment usually uses by the people for lower transaction fees, which is an excellent feature that anyone can experience. Facebook is also reportedly in discussions with a number of online retailers to allow the currency as payment in return for lower transaction fees.
7. Wild Support to Internation Currencies
International currencies are one of the reasons why a lot of people are using a digital way of payment to every transaction. It is much easier on changing established currencies, these include the US dollar, the euro, and also the Japanese yen. This feature is for the digital currency to maintain its value.
8. Future support from VISA & MasterCard
Digital payments today can be used by means of converting it into Mastercard and Visa. this also wants by Facebook to provide millions of their users. With regards to this Facebook is seeking for the fund for this project to support and discuss it with other giants company just like the two mentioned above.
9. Security Compliances
Digital payment is riskier to use. however, this Facebook GlobalCoin has its own feature plans by the developer to prioritize its security. This was discussed with the US Treasury about the process of the determine checks and how to lessen money laundering risks.
10. Progressive Future
A Barclays Internet critics state that the cryptocurrency could provide a whopping $19 billion in additional revenue to Facebook by 2021. The reason why developer pursues to push this for every user. This can help the whole Facebook community to reach on top of every social media platform.
Payment is a significant step in any customer-vendor communication. It creates a transaction and describes successful customer growth. Despite its vital significance, businesses worldwide typically mark this step as just another customer touchpoint.
As changes in technology have changed many industries over the past decade, payments also merit a closer look. The reason why a lot of digital payment exist today is because of that reason to make life easier and simpler but powerful. Facebook GlobalCoin provide the people to have a transparent transaction and also gives the power of technology by giving the full power of this. We hope we all Buy GlobalCoin by Facebook in the near future to do all kind of transaction.
Saurabh Mukhekar is a Tech Blogger from Pune, India. He is also thinker, maker, life long learner, hybrid developer, edupreneur, mover & shaker. He’s captain planet of BlogSaays and seemingly best described in rhyme.
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