What Impact Could Facebook’s Digital Currency Have on the Financial Industry? | CoinCodex
- In this article, we are going to discuss the primary reasons why Facebook’s digital currency could lead to a revolution in e-commerce, what advantages Facebook has over the competition in the payment processing space, and the likelihood of Facebook solving the huge remittance problem workers and employees are facing around the globe.
- As per the report, Facebook plans to peg the value of its digital coin against a basket of various world currencies, essentially embracing the stablecoin model.
- Once users will start exchanging fiat money to obtain the equivalent amount of Facebook coins into their mobile wallets, it will become incredibly easy to buy items from merchants embracing Facebook’s solution, both online and in brick-and-mortar stores.
- As Facebook’s currency will presumably get traded frequently, it is not too hard to imagine that sooner or later various Facebook coin derivatives such as futures, forward contracts, options and interest rate swaps will emerge and further cement its role as one of the leading financial institutions.
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