Facebook plans to launch currency GlobalCoin in 2020

Put Facebook the finishing touches on plans to launch its digital in the next year, the company plans to establish a system for payments to digital in about 12 countries around the world, by the first quarter of 2020.

And the giant social networking start in the selection process by the Digital, which has been referred to internally as GlobalCoin, by the end of this year, as reported by the BBC.

It is expected that Facebook detailed its plans this summer, having already talked with the governor of the Bank of England, Mark Carney, Mark Carney.

Met with the founder and CEO of Facebook, Mark Zuckerberg, Mark Zuckerberg, Mark Carney last month to discuss opportunities and risks, which involved the launch of the digital currency.

And Facebook to get advice on operational and implementation issues, officials in the Treasury Department.

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The company also conducts talks with money transfer companies, including Western Union Western Union, where looking for ways cheaper and faster, people who do not have a bank account; to send and receive money.

And want Facebook to create a digital currency that provide ways reasonable and safe to repay the payments, regardless of the owning user bank account.

He hopes the social networking site owner, for, and WhatsApp, instead, on the occasion of current networks, by breaking the barriers of Finance, and with banks, reducing costs for the consumer.

The information about the project, Facebook named Project Libra to launch digital currency, had appeared for the first time in a month last December.

The project involves the consolidation of efforts with banks and intermediaries, who will act people switch dollars and other international currencies into a digital currency, is expected to lead a small group of founders launched the federation based in Switzerland in the coming weeks.

And it is said that Facebook is in talks with a number of online merchants accept the currency as a means of payment, compared to their access to the transaction fee is less.

And I Facebook during the recent years to much criticism because of its cooperation the bad with the personal data of users.

Is likely to be subject to the process launched the process of digital to a lot of scrutiny by regulators, she wrote a Senate committee earlier this month an open letter to Mark Zuckerberg wondering about how to work, what are the ways of consumer protection provided, and how you will secure the data.

As discussed the company is also the process of verification of identity, and how to reduce the risk of money laundering, with U.S. Treasury Department.

And Facebook to prevent fluctuations in the value of the currency by linking it to a basket of currencies including the US dollar, and the European Euro, and Japanese yen.

Recall that this is not the first time that you try to Facebook to enter the field of digital currencies, as it launched a decade ago, Facebook Credits, a virtual currency enabled people purchase items within the app and on the product, but she completed the project after less than two years because of failure to get support.

Should the company adapt to the very large number of regulations in countries that want to launch a business of their Including, is likely to be the bigger test is in the fact that people will trust in the giant social networks, enough to start switching their finances to the actual to work by digital, or not.

Still Facebook in the first stage of its cooperation with governments, central banks, and regulatory bodies, and recognizes the insiders that the launch of any business network to digital by the beginning of next year is ambitious.

It was expected long ago to take Facebook a step in the field of financial services, particularly after being appointed the former CEO of PayPal, David Marcus, David Marcus, as a manager for messaging Messenger in 2014.

And destroys Marcus, a member of the board of management of the platform to trade digital currencies Coinbase, matches Facebook in the field of Technology block your chi, which is the technology that works through its digital currency.

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