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Cheddar reports that Facebook has acquired the startup crypto, Chainspace, suggesting that it is advancing rapidly, with information announced to build a stablecoin – a cryptocurrency that would have a stable value against a world currency, probably the US dollar. There have been very few similar acquisitions of blockchain companies by existing technology companies without block chains. In fact, it may be the first agreement of its kind.
This is, said a Facebook spokesman in Cheddar, a so-called "acquisition", or acquisition of talent. The researchers who founded the startup, including some from University College London, have joined or will join Facebook's blockchain group. What they were working on is still relevant. Chainspace seems to be focused on sharding technology, a potential way to allow blockchains to handle a large number of transactions, which, for the moment, remains a necessary sacrifice for decentralization. And nothing would need to be farther or faster than a Facebook piece.
Cheddar does not provide details on the size of the transactions, but it is definitely great news for the future of blockchain and cryptocurrency as a commercial sector. An acquisition by Facebook, for example, is enough to trigger a number of chain reactions, including venture capital investments in potential future acquisitions and competitors seeking their own goals.
What is much less clear, is to know if there is something to celebrate here for those who believe in the ideals of decentralization, mbadive empowerment and privacy that initially drove to the creation of cryptocurrency. As we wrote last month, Facebook is now unambiguously a force for evil in the world: a rapacious mind control machine that encourages ethnic cleansing, overthrows democracy and leaves our children fearless. .
Now imagine what they will accomplish with their own currency.
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