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GlobalCoin: The community responds to Facebook's "crypto" project




Forget "Zuckbucks" or "Facecoin", Facebook has officially announced GlobalCoin, "Cryptocurrency" made by Zuckerberg and his crack team of Blockchain engineers. So what should society say about the new venture? Here are good, bad social reactions to GlobalCoin.

It was announced a few days ago that Facebook was looking to launch its officially tagged crypto competition once in Q1 2020, which has been in the works for over a year. Although it is not widely known about the actual use of the GlobalCoin speculation points, it is utilized for payments both within and outside Facebook's ecosystem.

For the most part, it seems that Facebook is actively aiming to complete with Bitcoin, which has not gone unnoticed by society as a whole.

Some have noted that due to their centralized nature , Globalcoin cannot be classified as a cryptocurrency at all:

With all the power in the hands of one company and their will that govern the fundamentals of Bitcoin and the broader crypto ecosystem, it is essentially non-existent

Others point to the man who pulls the venture, Zuckerberg himself, and points to the shady actions shown from Zuck and his company earlier:

And then it is the name …

Expected the community escpailly into the choice of name, with many noticing how misunderstood and Orwellian name GlobalCoin is:

However, there were some who looked positive on the venture. Such a lawyer suggested that GlobalCoin will raise awareness of crypto course values โ€‹โ€‹and thus bring billions to "real" crypto curves as Bitcoin:

Another simply noted that GlobalCoin can become a big player in the room, thanks to Zuck's business ability.

So all in all, the community seems to have a vendetta against GlobalCoin already (to be fair, the dystopian name is not too much). But with Facebook's 2.4 billion active users, and with all of Facebook's weight behind it, it's likely that this new venture will be a success, and who knows that it could only reinforce the crypto industry over the way …

What do you think of GlobalCoin? Will it help or hinder the cryptocurrency industry? Please let us know your thoughts in the comments!

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