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Social media mogul Facebook has made progress in its blockchain efforts by hiring a blockchain startup specializing in smart contracts and facilitating payments.
Facebook space "Acqui-Hires"
According to the financial media Cheddar, Facebook hired a small blockchain company called Chainspace.
In Silicon Valley, this operation is called "acquisition" and, according to the report, four of the five researchers behind Chainspace's academic white paper join the social media giant.
Sources close to the case told Cheddar that the start-up would close because Facebook hired most of its current employees.
A spokesman for Facebook would also have confirmed this decision, referring to a previous statement from the company:
Like many other companies, Facebook is exploring ways to leverage Blockchain technology. This new small team is exploring many different applications. We have nothing to share.
A step closer to the "Facecoin"?
Last May, Bitcoinist said the company was supposedly "very serious" about creating its own cryptocurrency to allow its billions of users to make electronic payments.
At the end of December 2018, anonymous sources aware of the company's transactions revealed that Facebook was working on a stable currency pegged to the US dollar to allow WhatsApp users to transfer money.
Chainspace specializes in the construction of decentralized smart contract systems, which can facilitate payments, as well as other services using blockchain-based technology.
According to an article published by some of the researchers and co-founders of the start-up, including Alberto Sonnino, Mustafa Al-Bbadam and George Denezis, "Chianspace is a decentralized infrastructure, called distributed ledger, which supports the contracts intelligent defined by the user and executes transactions provided by the user on their subject. "
What do you think of the acquisition? Do not hesitate to let us know in the comments below!
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