Dr. Evil Would Love Facebook’s “GlobalCoin”
More than 2 billion users spending one currency, controlled by one billionaire. What’s to worry about?
Unlike Bitcoin, Facebook doesn't want to use its crypto-currency to bring down the established financial system. It wants to co-opt it.
Photographer: NurPhoto/NurPhotoSometimes even bitter billionaire rivals need each other. Mark Zuckerberg and the Winklevoss twins fell out over the founding of Facebook Inc. but they appear to have buried the hatchet over the blockchain.
According to the FT, Gemini, the crypto exchange founded by the “Winklevii,” has held talks with Facebook over the social network’s plans to roll out its own crypto-currency, which would probably be used to make payments and purchases across Zuckerberg’s empire. The talks suggest something “bigger and more open” than previously imagined by the company, according to the FT: A liquid, tradeable currency that’s used far and wide.