FaceBook, GlobalCoin and the US Dollar

Facebook-Global-Coin-2020 (1)Jasmin Cowin, Ed.D.

A few days ago, Laura Mccracken, Facebook’s head of financial services in Northern Europe, announced that Facebook will release the White Paper for their cryptocurrency GlobalCoin (nicknamed Project Libra) on June 18th, 2019. (https://lnkd.in/d5rk7FC). Here my concern: Will Facebook through GlobalCoin pose a threat to the US Dollar? GlobalCoin will be a stablecoin. Stablecoins are cryptocurrencies designed to minimize the volatility of the price by being pegged to a currency, or to exchange-traded commodities such as precious metals or industrial metals. GlobalCoin will be pegged to a “basket of fiat currencies”. The Wall Street Journal reported that the social media giant has signed on more than a dozen backers for its GlobalCoin cryptocurrency. “Each of the new backers will invest roughly $10 million in the project as part of a governing consortium for the cryptocurrency. The crypto will operate within the company’s messaging infrastructure – WhatsApp, Instagram, and Facebook Messenger.” quoted from Nikhilesh De, https://lnkd.in/dNtzMcC hashtag#GlobalCoin hashtag#ProjectLibra hashtag#stablecoin hashtag#Facebook

Author: drcowinj

As an Assistant Professor for TESOL and Bilingual Programs at Touro College, Graduate School of Education Dr. Cowin’s focus is on the Responsibility to Touro Students (Teaching), Responsibility to the Discipline (Scholarship), Responsibility to Touro College and Community (Service). Dr. Cowin strives to inspire students to be creative and to model the love of lifelong learning by inculcating the habits and attitudes that create agile mindsets. 21st-century learning extends well beyond the classroom, and Dr. Cowin incorporates takes full advantage of online learning technologies for L2 language acquisition and current global trends in teaching English as a Second Language She represents high levels of scholarship and participates fully in the larger world of TESOL academic discipline. Ongoing research, expressed in scholarly contributions to the advancement of knowledge is demonstrated through publication, presentation and participation in academic conferences, articles in Education Update, blogging and other scholarly activities, including public performances or exhibitions at conferences and workshops such as the Plekhanov University of Economics keynote address in 2018. Of special interest to her are The Blockchain of Things and its implications for Higher Education, Current Global Trends in Teaching English; Developing Materials and Resources in Teaching English – Methodology; E-learning & Micro-Methodology in Teaching English; and E-Resources Discovery and Analysis.

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