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

Education is our passport to the future, for tomorrow belongs only to the people who prepare for it today,” determined Malcolm X at the O.A.A.U.’s [Organization of Afro-American Unity] founding forum at the Audubon Ballroom. (June 28, 1964). (X, n.d.) Dr. Jasmin Bey Cowin a Fulbright Scholar completed the Education Policy Fellowship Program (EPFP™) at Columbia University, Teachers College. Dr. Cowin served as the President of the Rotary Club of New York and Assistant Governor for New York State; long-term Chair of the Rotary United Nations International Breakfast meetings; and works as an Assistant Professor at Touro College, Graduate School of Education. Dr. Cowin has over twenty-five years of experience as an educator, tech innovator, entrepreneur, and institutional leader with a focus on equity and access to digital literacy and education in the Sub-Saharan Africa region. Her extensive background in education, administration, not-for-profit leadership, entrepreneurial spirit, and technology innovation provide her with unique skills and vertical networks locally and globally. Dr. Cowin participates fully in the larger world of TESOL academic discipline as elected Vice President and Chair-Elect for the New York State, NYS TESOL organization, for the 2021 conference. Ongoing research, expressed in scholarly contributions to the advancement of knowledge is demonstrated through publications, presentations, and participation in academic conferences, blogging, and other scholarly activities, including public performances and exhibitions at conferences and workshops. Of particular interest to her are The Blockchain of Things and its implications for Higher Education; Current Global Trends in TESOL; Developing Materials and Resources in Teaching English; E-learning; Micro and Macro-Methodologies in TESOL; E-Resources Discovery and Analysis; and Language Acquisition and the Oculus Rift in VR.

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