• Days
  • Hours
  • Mins
  • Secs
  • Mon, 21 Oct 2019, 07:30 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Facebook Crypto Initiative Gets Thumbs Up from RBC Analyst, Expects Big Things

Facebook GlobalCoin.MaxDapp/YouTube

Sun, 16 Jun 2019, 22:55 pm UTC

It would appear that some analysts are already salivating at the mouth simply thinking about what the cryptocurrency initiative that Facebook will be launching soon will mean for its bottom line. RBC analysts Mark Mahaney and Zachary Schwartzman made their thoughts known to investors on the matter. It would appear that they have high hopes.

The analysts provided their initial speculations with regards to the upcoming launch of GlobalCoin and all of the implications that come with it in a note on Thursday, CNBC reports. It’s expected that the white paper for the cryptocurrency will be released on June 18 and suffice it to say, it is generating a ton of excitement.

“We believe this may prove to be one of the most important initiatives in the history of the company to unlock new engagement and revenue streams,” the note reads. “We believe Facebook will use crypto to facilitate a platform for: 1) Payments; 2) Commerce; and 3) Applications & Gaming.”

Now, it’s worth pointing out that with Facebook’s size and influence, along with its unique position of being the largest social media platform in the world, it does have the potential for a market shakeup. The tech company will basically have the kind of reach that other cryptocurrency providers and hubs could only dream of.

If Facebook decided to integrate GlobalCoin into all of its operations, from sending donations to influencers to paying for goods on its marketplace, it can be quite the game changer. On that note, a lot of crypto enthusiasts are not impressed by the initiative, at all. Many view this move to be the latest in a long list of Facebook’s attempts to be relevant in fields other than social media.

While the prospect of GlobalCoin will likely convince millions, those who have been around the crypto block know better. A lot of the most notable figures in the field like Charlie Shrem have already expressed doubts with regards to the Facebook project.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,226.50 (+0.55%)
  • Ethereum (ETH) $174.13 (-0.54%)
  • XRP (XRP) $0.292400 (-0.04%)
  • Bitcoin Cash (BCH) $231.14 (+3.02%)
  • Litecoin (LTC) $54.61 (-0.41%)
  • Bitcoin (BTC) $8,226.50 (+0.55%)
Oct 21, 2019 (Monday)
11:50
Crypto Technicals: LTC/USD halts downside at strong trendline support, breakout above 21-EMA to confirm near-term upside
11:12
Crypto Technicals: XMR/USD edges above 21-EMA, technical bias turning bullish
07:57
Crypto Technicals: BCH/USD bounces off strong trendline support, break above 21-EMA (228.68) to see bullish continuation
06:18
Crypto Technicals: ETH/USD struggles to extend gains, finds stiff resistance at 179
04:55
Crypto Technicals: BTC/USD pauses upside at 21-EMA (8326), break above to buoy Bitcoin bulls
Oct 18, 2019 (Friday)
12:51
Telegram’s claim “Grams will not be security once TON Blockchain launches” is insufficient, argues SEC
11:51
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:51
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:23
US Senator comes out in support of Facebook’s crypto, finds hostility towards Libra “puzzling”
10:38
Crypto Technicals: BCH/USD tests trendline support (209), dip till 78.6% Fib (168.35) likely
10:13
IBM, Raw Seafoods partner to digitize scallops supply chain using blockchain
08:48
India’s Reliance Industries reveals blockchain plans for Bill of Lading and Letter of Credit transactions
07:48
Crypto Technicals: Ripple (XRP) erases most of previous session's gains, retrace below cloud dents further upside
07:22
Crypto exchange Upbit operator Dunamu to launch OTC trading platform for unlisted securities
06:52
Crypto Technicals: ETH/USD fails to extend recovery, resumes weakness, 167.50 (Oct 6 low) in sight
06:22
Stablecoin initiatives highlight shortcomings in cross-border payments: G7 Working Group
06:11
Crypto Technicals: LTC/USD extends choppy trade below 21-EMA, bias bearish
05:02
Crypto Technicals: BTC/USD confined to narrow range, bias bearish below 5-DMA (8132)
04:48
Telegram calls SEC’s emergency injunction “unreasonable”, argues gram tokens are not securities
Oct 17, 2019 (Thursday)
13:38
Bermuda to develop blockchain-based national ID system with Shyft and Perseid Network
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft