Failure to launch: Meta's Novi pilot emphasizes massive 'trust' problem
The lack of public accessibility is the biggest barrier to the mainstream adoption of cryptocurrency. While many companies, such as Unbanked, VISA, and Square, have embraced and integrated various internationally accessible platforms and programs, tech giants like Meta have not been involved until now.
But on 19th October, Facebook (as it was still then) announced the launch of its own digital Novi wallet. The launch was part of the Novi wallet pilot program in the US and Guatemala. In partnership with Coinbase, a leading cryptocurrency exchange platform, the pilot program will allow users to securely and instantly send and receive money using Paxos stablecoin.