Facebook launching a cryptocurrency called ‘Libra’ That Was Originally Called ‘GlobalCoin’ supported by Visa, Uber, Mastercard, and others

We first heard that Facebook might be developing its own virtual coin, referred to internally as GlobalCoin, over a year ago, though it had been investigating potential uses for blockchain technology since 2017. A new report by the Wall Street Journal states that the crypto will debut as soon as next week and will be supported by more than a dozen companies including Visa, Mastercard, PayPal, and Uber Technologies. Stripe, Booking.com, and MercadoLibre are also part of the project.
 
The publication writes that each firm will invest around $10 million into a consortium that will govern the effort.
 
It’s been reported that Facebook’s crypto is a stable coin, meaning it is pegged to the value of an underlying asset, usually government-issued currencies such as the US dollar. It will operate within Facebook’s messaging infrastructure, which covers WhatsApp, Instagram, and Facebook Messenger.
 
Exactly what GlobalCoin will be used for is still uncertain, even some of the partners don’t know. “It is still not entirely clear, even to some members of the consortium, how the coin will work or what their roles will be,” wrote the Journal.
 
The BBC writes that GlobalCoin will provide an affordable and secure way of making payments, regardless of whether users have a bank account. Facebook is said to be in talks with online merchants in the hope they’ll accept the crypto in return for lower transaction fees.
 
Facebook is expected to unveil GlobalCoin on June 18.
Facebook New Cryptocurrency Libra
Facebook New Cryptocurrency Libra
 
Facebook to Debut Cryptocurrency ‘Libra’ Next Week, Backed by Visa, Mastercard, Uber
 
FROM BREITBART: The Wall Street Journal reports that social media giant Facebook plans to reveal its new Libra digital cryptocurrency next week with backing from over a dozen other companies. Visa and Mastercard are reportedly quite invested in the currency while other Silicon Valley firms such as PayPal, Uber, Stripe, and Booking.com are fully supporting the currency.
 
Keep in mind that these entities are each paying $10 million for the privilege of running a node aka unlimited access to transactional data. What this announcement *actually* means is that now Visa, MC, PayPal *and* Facebook are *each* getting unfettered access to users’ data. https://t.co/a5g4XPRUVz— Preston Byrne (@prestonjbyrne) June 13, 2019
 
Each of these firms will invest around $10 million to fund further development of the currency and become part of the Libra Association. The association will act as an independent group which will govern the coin independently from Facebook. The involvement of Visa and Mastercard is interesting as cryptocurrency can act as a viable alternative to the services offered by these firms and could be direct competition, some have suggested that the firm’s involvement is an attempt to keep track of Facebook’s currency, while others have implied alternative motivations.
 
Byrne and Storm lawyer Preston Byrne suggested that the firm’s involvement is due to the greater access they can gain to Facebook’s user data.
 
The cryptocurrency is reported to be called Libra and will be revealed on June 18, with plans to release the coin fully in 2020. It’s expected to act as a “stablecoin” meaning its value will be attached to a number of government-issued currencies in order to limit the volatility of the value of the coin; an issue which Bitcoin has faced for some time.
 
Users will be able to send Libra via Facebook products such as WhatsApp and Messenger, reports also claim that a number of partnerships with online retailers will allow users to spend the coin in many locations online. Facebook is reportedly also considering developing ATM-like physical machines in which people can convert their regular money into Libra.
 
Previously Libra was announced as “GlobalCoin.” READ MORE
 
Social media giant Facebook is expected to reveal its new digital cryptocurrency Libra next week, backed by Visa, Mastercard, Uber, and others.
This is truly an amazing end times story we bring you today, one that sounds like it’s fresh off the pages of the end times novels like ‘Left Behind’, but this is no fiction, no sir. This is stunning end times Bible prophecy coming true before our very eyes. What is the Internet but the One World System that connects all people everywhere around the planet? What is social media but a digital marketplace where billions and billions communicate with each other? Now today we bring you the story of Facebook’s new cryptocurrency named ‘Libra’ which is set to launch globally on June 18th. And what was the original name of ‘Libra’? You guessed it, ‘GlobalCoin’.
 
“And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man, and his number is Six hundred threescore and six.” Revelation 13:16-18 (KJV)
 
And please don’t get the idea that this is purely a Facebook undertaking because it’s not, not by a long shot. Financial heavyweights Visa, Mastercard, PayPal, Uber, Stripe and many others are all invested nearly up to a billion dollars. That level of adoption means you will soon be able to use Libra cryptocurrency anywhere and everywhere you shop. The Internet, social media, cryptocurrency, it’s all part of the One World System that is being created before our very eyes.
 
And yes this currency can be used in a chip in your hand or forehead! Is this the one-world currency? Time will tell. Did you think your personal information was private? Ha! Nope! It’s not!
 

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