Even if the Californian firm has not made any official announcement, it is now certain that Facebook’s Global Coin will be revealed to the world shortly in the next few weeks. Indeed, Facebook has not only planned to reveal its stablecoin as part of a first test campaign, but has even already offered its employees to receive all or part of their salaries in GlobalCoin!
It will also be possible to take a look under the hood in a few days, with the publication of the White Book of the “Libra Project” which could take place on June 18.
However, one question recurs repeatedly: where, when and how will it be possible to acquire Global Coin? Furthermore, will this new cryptocurrency be an attractive investment instrument?
We take stock !
What we already know, what we suppose, what we don’t know
As we said, the cryptocurrency project of stablecoin from the social media giant was therefore not the subject of any real communication. Only indiscretions or skilfully orchestrated leaks allow us to discern the nature of this future currency, its perimeter and its likely functioning.
Panorama of (quasi) certainties and credible hypotheses:
When will the Global Coin be available to the general public?
This is part of the initial announcements: if Global Coin will be presented shortly, its effective deployment will be early 2020, in a dozen countries. In addition, it will be recalled that the cryptocurrency of Facebook was originally presented as having to be made available first to users of the messaging WhatsApp. However, Facebook employees could see part of their salary paid into Global Coin, in the coming weeks!
In fact, like the stock options reserved for employees of a firm at preferential rates, Facebook could choose to designate its more than 35,000 employees as primary beneficiaries and users of Global Coin (it should be recalled in passing, that the median salary at Facebook is more than 240,000 USD per year…).
The general public could start using Global Coins in the very first months of 2020, although it will probably be possible to acquire them before that date.
How will it be possible to buy Global Coins?
The list of first partners Global Coin blockchain provides many clues to start answering this question.
It’s the US specialty media The Block who publishes this infographic exclusively: the first partners integrating the Libra Foundation created specifically to bring together the owners of the first 100 nodes of the future blockchain network of GlobalCoin.
The least we can say is that this impressive consortium give directions for the next steps!
The editors of The Block even split up a small ranking:
If each of these partners (which will be remembered to have spent $ 10 million to acquire ownership of one of the first 100 nodes in the network) deserves an article dedicated to him alone, let’s focus for the moment on the open tracks ways to buy the Global Coin.
Via bank card, on a dedicated platform
VISA, Paypal, MasterCard, PayU…. the number of payment providers already associated with the project is impressive! VISA and Mastercard, undisputed giants of the sector, are present in the vast majority of pockets and portfolios of the banked population around the world (as for the unbanked developing countries, don’t worry Facebook and Libra have many plans for them …).
Thus, it will obviously be possible to acquire Global Coins with the bank cards of these networks. Facebook (which, it’s important to note, takes great care to keep its distance from the Libra project as such), will probably launch a dedicated platform, perhaps under the title of Calibra, a structure created especially for the occasion.
Want a little spoiler? Even if the site www.calibra.com currently returns a nice error 404, the analysis of its source code is rich in many clues about the events to come … 😉
On crypto exchanges and brokers
Obviously, even if the participation of actors like Xapo and Anchorage (brokers offering solutions to buy and keep crypto assets) should be emphasized, it is indeed the presence of the giant of the sector Coinbase that gets all the attention!
Difficult to know the exact content of the agreements between Coinbase and Libra, but a listing on this emblematic platform, reputed to only offer the most solid cryptocurrencies, would send a strong signal to the entire sector.
Anyway, these different platforms will necessarily allow their verified users (in other words, having complied with the requirements of a KYC, a verification of their identity), to acquire Global Coins.
Acquire Global Coins with Bitcoin (BTC)?
This is a fundamental question. Informed observers generally agree (it is true to say) that this option would have a significant impact on diffusion of the queen of cryptocurrencies, by side effect. Indeed, even if 1% of two billion potential Global Coin users began to take an interest in and acquire Bitcoin, the impact on its adoption and his value could be unprecedented.
In fine, except unlikely regulatory restrictions, it will necessarily be possible to trade Bitcoin (BTC) for Global Coin and reciprocally. The only question that remains is: to what extent will this transaction be made fluid and accessible to ordinary consumers, or on the contrary will remain complex and unfriendly for the neophyte?
The Global Coin, a good investment?
As we have said, the Global Coin will be a stablecoin, backé on a basket of coins fiat international, themselves renowned for their stability. The number of 5 currencies is often mentioned, including in particular the Japanese Yen, Euro and Dollar. None of this has yet been definitively confirmed, but it would be surprising if these fundamentals were questioned as part of future official announcements.
The speculators’ nightmare
If you put the speculation on one side of the spectrum, you will probably find that the concept of stablecoin is positioned the exact opposite!
Indeed, if there is indeed a pitfall on which most cryptocurrencies have been shattered for 10 years, and which represents the absolute scarecrow for regulatorsis the frenzied trend of crypto to fluctuate ultra brutally! Rises and falls of tens of% are not uncommon in the sector. If the blockchain community is used to these permanent roller coasters that delight trainee traders, it’s an environment where a publicly traded group like Facebook will never venture a single blue thumb!
Thus, GlobalCoin will be stable and its fluctuations in value should not exceed those of the currencies on which it will regulate its march. An amplitude of a few%, up or down over long periods should represent the maximum adrenaline level for a currency that will have a central mission: reassure its investors and users.
In summary, for the investor and especially for the speculator, the Global Coin will not represent the slightest interest!
The Global Coin will shake up the competition… and it could be a bloodbath!
I explained this in a previous article (“The Global Coin could nip Ripple and Litecoin”), the cryptocurrency value proposition of Mark zuckerberg could empty much of the substance Altcoins (aka, all cryptocurrencies that are not Bitcoin), especially those based on speed and number of simultaneous transactions : Litecoin (LTC), Ripple (XRP) or even Stellar (XLM).
In the darkest scenarios, it’s even a large part of the MarketCap that could simply disappear, by siphoning most of the users of certain cryptocurrencies, completely corny from Global Coin!
Thus, if there is to be speculation around Facebook’s cryptocurrency, it is paradoxically enough on the side of the collateral victims that the losses and gains of the speculators’ war will be played out.
Nice to meet you, it’s Hellmouth! Editor-in-chief of Bitcoin, the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
Did you not like the article? Do you want to give me your opinion on a subject, or offer me one? You can come and bawl like a polecat or pour out on my LinkedIn profile, on Facebook, or Bitcointalk