Copy link
Increase text size
Decrease text size
Link copied

Facebook secures bank lobbyist to push cryptocurrency dominance

Mark Zuckerberg.Anthony Quintano/Flickr

Sat, 15 Jun 2019, 02:40 am UTC

Facebook is intent on dominating the cryptocurrency field – or just any field, in general – and it recently hired a bank lobbyist to help it do just that. The new member of its global force for world domination is Ed Bowles and his role will be that of the director of public policy in London. Bowles worked for Standard Chartered European Head of Corporate and Public Affairs until the tech giant recruited him.

For some context as to what Facebook has planned with its cryptocurrency move, the company is set to unveil its own take on the rising trend with GlobalCoin, The Telegraph reports. As to what Bowles’ role will be, his past work as a bank lobbyist can paint a clear enough picture of his upcoming tasks. Simply put, he was an expert negotiator who handled deals between the EU and the US.

With this in mind, it would not be going too far to suggest that Bowles will be handling the difficult task of convincing everyone that GlobalCoin is a good idea and worthy of their time. This is not an enviable task, mostly because most of Facebook’s non-social media initiatives have failed to impress. In terms of its efforts in the video game, video streaming, and even e-commerce spaces, its performance has been subpar.

This is why there so much concern with regards to its push into the cryptocurrency market. The tech giant might have lofty ambitions, but whether or not it can actually achieve them is the question. This is why the acquisition of Bowles is such big news.

As for Facebook CEO, Mark Zuckerberg himself, he recently reiterated his desire to make online payments easier for users of the social media giant. Cryptocurrency could be one way of doing this.

"I believe it should be as easy to send money to someone as it is to send a photo," the controversial tech mogul said.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,258.27 (+0.69%)
  • Ethereum (ETH) $145.77 (+1.97%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $207.82 (+0.41%)
  • Litecoin (LTC) $44.15 (+0.60%)
  • Bitcoin (BTC) $7,258.27 (+0.69%)
Dec 12, 2019 (Thursday)
15:04
Binance launches Latin American fiat gateway; adds new fiat payment options
14:12
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
14:12
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:48
Crypto Technicals: Tezos (XTZ) bucks bearish crypto market trend, grinds higher with strong bullish momentum
11:48
Blockchain startup Digital Asset secures $35M in Series C round
10:53
Crypto Technicals: DASH/USD finds no respite from bears, set to hit fresh record lows
10:19
New York regulator publishes proposed guidance to modify BitLicense
08:40
Consensys shuts down India, Philippine offices; 11 people axed by the closure
07:43
SEC chairman says DLT can foster capital growth; Revealed that agency has been studying digital assets
06:47
Crypto Technicals: XRP/USD capped at 20-DMA, on track to test trendline support at 0.1975
06:47
Napoleon Bitcoin Fund launches in France to cater institutional investors
06:39
Digital assets are here to stay; State Street survey reveals continued institutional interest
06:03
Crypto Technicals: ETH/USD dips below 140 mark, eyes trendline support at 132
05:37
Enterprise Ethereum Alliance, Chamber of Digital Commerce partner on tokenization efforts
04:42
Square Crypto awards grant to pseudonymous Lightning contributor ‘ZmnSCPxj’
04:42
Crypto Technicals: Bitcoin hits 2-week lows below $7100, bearish bias with rising volatility to see more weakness
03:35
Russian power grid company to use blockchain technology to solve massive energy debt issue
03:14
Elliptic launches a risk-assessment tool for banks to identify trustworthy crypto exchanges
Dec 11, 2019 (Wednesday)
12:54
Wu Jihan once again takes over the helm at Bitmain as CEO
12:36
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft