Facebook Globalcoin, Project Libra

White Paper [details and basics of the coin] of facebooks cryptocurrency to be released June 18

Expect a stablecoin release from Facebook on June 18.

I fully expect the facebook coin to be a stablecoin tied to fiat currency in order to implement a payment system of whatsapp, messenger and even instagram.

As noted in my other posts, stablecoins allow for an almost fee free transfer of capital. From friend to friend, employer to employee, or any other payments Bobby is doing over the weekend..

In my opinion this will be the biggest release in the crypto market. Despite usage in the North American market declining, the third world markets facebook is booming. Coincidentally these markets also have the worst access to capital and the highest currency risk…. the areas where Stable coins will flourish.

Now stablecoins isnt where you should throw some money.. better off trading whatever the underlying asset is. But this release will however boost the cryptomarket as a whole. Buy your big 5 currencies asap. I focus on Bitcoin and Ripple [XRP].

The reason being, most exchanges and wallets with global reach only offer the top cryptos. In order to gain access to the stablecoins being will be buying the big 5 and converting these to their stablecoins when needed. Just a hunch..

One thought on “Facebook Globalcoin, Project Libra

  1. While I see the rising tide theory, Libra may be more of an outlier as the wallet appears geared to load Libra via traditional means (Visa, Mastercard, Paypal and Stripe) rather than crypto exchanges/wallets – though that could change considering Coinbase is a founding member. The more interesting issue is how much traction Libra will gain considering it will not be rolled out in jurisdictions facing US sanctions or where cryptocurrency is illegal (which covers a good part of the unbanked or unstable currency universe). Plus the US, EU and others want additional information and/or enhanced regulations.

    Liked by 1 person

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