globalcoin in A Sentence

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    Facebook to launch cryptocurrency“Globalcoin” by 2020.

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    Globalcoin may be used in a variety of ways.

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    Facebook is working with online merchants to accept Globalcoin.

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    Globalcoin is intended as a means to make payments secure.

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    Globalcoin from Facebook will destroy all that is good in cryptocurrency.

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    Globalcoin will be attached to a“basket of fiat currencies”, and is expected to be a stable coin.

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    By now, you have heard that Facebook is in the process of launching its own cryptocurrency Globalcoin.

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    These and other concerns may slow Facebook's plan to make Globalcoin ubiquitous in many nations around the world.

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    The U.S. Treasury reportedly is concerned that Globalcoin could be used as a tool for money laundering.

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    Facebook Globalcoin cryptocurrency will have a major impact on the global cryptocurrency industry if it is launched successfully.

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    There are headaches to be worked out," he added, in matters such as accounting for accumulated Globalcoin on a business' books.

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    The currency, dubbed Globalcoin, would enable Facebook's 2.4 billion monthly users to change dollars and other international currencies into its digital coins.

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    As for the name Globalcoin, it is likely to change since there already is a digital currency with this name that was launched in 2012.

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    The design of Globalcoin is cleaver but it is not yet clear how Facebook will adhere and implement the anti-money laundering laws as well as know-you-customer measures.

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    To overcome this hurdle, Facebook may seek to make Globalcoin a so-called"stablecoin," which is linked to the value of a traditional government-issued currency, The Wall Street Journal suggests.

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    Unlike the popular belief that cryptocurrency will be similar to Bitcoin, we can now confidently report that Globalcoin is designed to allow users to make transactions, as well as store the value directly on the Facebook network.

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    Globalcoin cryptocurrency is under Facebook's covet Project Libra and as mentioned earlier, the main objective of creating it is to transform Facebook into a global platform that allow users to send and receive money as well as carry out online purchases.

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    Facebook, which also owns WhatsApp and Instagram, plans to launch its payments platform in about a dozen countries by the first quarter of 2020 even though its cryptocurrency, provisionally called Globalcoin in internal communications, reportedly will be under testing as early as this year, the BBC reports.

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