Facebook’s jump into the cryptocurrency space was a piece of news that sent shockwaves throughout the Fintech industry. Ever since its reveal, Facebook’s Global Coin sparked a debate between its supporters and critics on whether the cryptocurrency would be a boon or a bane for the mass adoption of digital assets.

The latest supporter of Facebook’s crypto project was Grayscale Chief Executive Officer Barry Silbert, who tweeted:

“The launch of Facebook’s cryptocurrency will go down in history as THE catalyst that propelled digital assets (including bitcoin) to mass global consumer adoption. Will be remembered as just as important — and transformative — as the launch of the Netscape browser. Buckle up”

Another popular opinion shared by the community was that the emergence of the social media giant’s cryptocurrency will pose a challenge to the United States Dollar, giving customers the option to choose a commodity that is suitable for fast and safe usage. Rhythm, a popular Bitcoin and blockchain enthusiast elucidated:

“Facebook’s coin will cause everyday people to pause and begin to question the properties of the US Dollar. That alone is a benefit to not just bitcoin, but the financial system as a whole. And as we all know, once you begin to question it, all roads lead to bitcoin.”

The cryptocurrency community’s split on GlobalCoin has led to attacks on Facebook CEO Mark Zuckerberg as well, whose reputation took a hit when Facebook’s privacy leak scandal took place. This sentiment was also shared by Charlie Shrem, Bitcoin evangelist and the Founder of BitcoinFoundation.org, who was against Facebook’s policies and GlobalCoin’s core idea. He said:

“I’m just gonna say it.

I think the “FacebookCoin” is an attempt by big tech, banks and credit card companies to lure people away from #Bitcoin into their “better, easier, crypto”, which is nothing more than a fiat coin being masqueraded as crypto.

Millions will be fooled.”

GlobalCoin was also in the news recently when Ran NeuNer, the host of CNBC’s Crypto trader called Mark Zuckerberg an ‘unelected dictator’. Although the launch date for the cryptocurrency is still under wraps, GlobalCoin has gained enough traction to force the entire cryptoverse to sit up and take notice.

The post Facebook’s Global Coin splits community as major Bitcoin proponents speak out on busy Friday appeared first on AMBCrypto.

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