GlobalCoin Holders May Receive Dividends From FB

Member of the Wyoming Blockchain Task force believes FB will profit from a basket of currencies and low-risk securities that will be used to secure Globalcoin
11 June 2019   586

The social network Facebook will pay a certain percentage to the holders of its Global Coin, which is preparing for an early launch. This assumption was made by a member of the Wyoming Blockchain Task force, Caitlin Long, Forbes reports.

According to Long, the company will make a profit from a basket of currencies and low-risk securities that will be used to secure cryptocurrency.

Facebook parks the entire US dollar balance at the Federal Reserve via one of its bank partners, for example, it could earn 2.35% risk-free—that’s $235 million for every $10 billion deposited into its cryptocurrency. These profits will quickly turn into a new hot potato for Facebook politically, if not shared with users.

Caitlin Long

Member, WY Blockchain Task Force

A significant role, according to Caitlin Long, will be played on the global market by the Swiss management company of this crypto project. She believes that the unit will take over the function of the central bank - it will determine the share of national currencies in the steylcoin basket in order to set its rate.

Also, Long did not rule out that in the future, the use of Global Coin could make regulators reconsider the criteria for securities.

Is Facebook’s cryptocurrency a security? If it is, will users face the absurdity of needing a US brokerage account to buy a cup of coffee with it? Will Facebook catch breaks from regulators that smaller start-ups haven’t—because of the tax data honeypot Facebook’s project will generate for governments? That’s a good segue to the next prediction.

Caitlin Long

Member, WY Blockchain Task Force

The expert added that, in general, the emergence of a new coin will positively affect Bitcoin, because, unlike him, the Global Coin offer is not limited and opens up prospects for trading in this pair.

Waves to Release Node 1.0

According to the team, Node 1.0 is a culmination of many months of work and now RIDE programming language is supported for the mainnet
26 June 2019   87

Waves blockchain platform this Tuesday announced the release of a major update Node 1.0, which will significantly expand the capabilities of its ecosystem.

The developers call Node 1.0 the culmination of months-long work and pay particular attention to the release of the RIDE programming language for the core network Waves, which is focused on creating stable decentralized applications.

In addition, with Node 1.0 in Waves, it will be possible to release collection items on the blockchain or non-fungible-tokens, similar to those used, for example, in Ethereum-based CryptoKitties.

Also, users of the Waves decentralized exchange will be able to use assets other than WAVES coins to pay commissions. Calculation of commissions in this case will be carried out on the basis of the exchange rate of Waves DEX. The developers claim that their community members have been asking for a long time to implement this feature.

Activation of the update will require the accumulation of 80% of the votes of the participants in the ecosystem. For comparison, in EOS, where a similar consensus mechanism is used, the minimum bar is 15%. Node 1.0 on the Waves core network will be launched one week after reaching the specified number of votes. At the same time, users and developers will have access to all the new features.