Caitlin Long, Wyoming Blockchain regulator and crypto champion speculates that Facebook’s GlobalCoin cryptocurrency will likely pay interest to its users.
She adds that by doing so will eventually lead to populist calls to repeal subsidies at the heart of the US banking system.
GlobalCoin is expected to be unveiled by the social media giant anytime soon this month, but very little is still known about the secretive project which is internally known as the Project Libra.
As it stands cryptocurrencies around the world knows that new cryptocurrency will be a Stablecoin pegged to the value of a basket of global currencies and will be backed by fiat held somewhere perhaps the Federal Reserve.
No Stablecoin issuers pay users interest for holding their digital asset, most of the time they just pocket the float rather than sharing it with their customers.
Facebook is too big and visible to get away with this practice and perhaps if the fiat money backing the digital asset will be kept in the federal reserve Facebook could share some of the 2.35% the Federal Reserve pays for holding fiat.
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Headlines for the world of Cryptocurrencies - June 08, 2019
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- Coinbase Seeing 14-Month High On Trading Volume
- Company Behind Budweiser Invests On Blockchain Startup
- Trust Wallet App Now Supports Ravencoin (RVN)
- Bitcoin Overtakes Previous ATH In Argentina Peso
Headlines for the world of Cryptocurrencies - June 07, 2019
- Prospective Node Operator Of Facebook’s GlobalCoin Node Needs $10 Million Per License
- Facebook Will Spell Trouble For Ripple
- Republic of San Marino Now Offers Some Regulatory Clarity To Cryptocurrencies
- Kodak To Use Blockchain To Offer Secured Storage
- CME Sees May 2019 As Their Best Month For Bitcoin Futures Since 2017
Headlines for the world of Cryptocurrencies - June 06, 2019
- Facebook To Announce Crypto Project This Month
- Major Football League Now Accepting CryptocurrenciesCryptokit Part of Apple’s Upcoming iOS Upgrade
- Largest Japanese E-commerce Business Partners With Country’s Biggest Railway Firm
- Cryptokit Part of Apple’s Upcoming iOS Upgrade
- 3rd Largest Russian Food Retail Firm Uses Blockchain
