Mark Zuckerberg

The promise of Facebook's GlobalCoin

Ribbon with Facebook thumbs up in the middle
Illustration: Aïda Amer/Axios

Facebook's new cryptocurrency, reportedly known internally as GlobalCoin, will be in "about a dozen countries" by this time next year, per the BBC. And it's going to be about more than just payments, according to an FT rep0rt this week — although the payments space alone is enormous.

Why it matters: "It should be as easy to send money to someone as it is to send a photo," says CEO Mark Zuckerberg. Given how many photos are shared across Facebook, Instagram and WhatsApp every day, it's clear that he sees an enormous opportunity here.

How the past is shaping Big Tech's future

Illustration: Rebecca Zisser/Axios

Battles over corporate power that played out over the course of the 20th century may provide the best clues to how companies like Google, Facebook and Amazon might ultimately be reined in.

What's happening: Major tech executives have urged regulators to adopt approaches from the past to regulate their businesses, including self-regulation, that have previously helped industries avoid the toughest penalties. Meanwhile, lawmakers are turning to history for lessons in how to cut Big Tech down to size.