Something is happening to the Cryptocurrency division of Facebook


  facebook cryptocurrency blockchain

It is not entirely clear what is happening in Facebook's nascent cryptocurrency division, but several reports suggest that something is going on.

Facebook meets the Cryptocurrency project Stellar

The first comes from Business Insider, which reports that the Facebook blockchain research group recently met Stellar to discuss how the social media conglomerate could exploit DLP (distributed ledger technology) ) potentially exploring the creation of a payment network.

According to anonymous sources, the two sides discussed how Facebook could launch the public blocker Stellar, just as did the Kik chat app after deciding to create an independent blockchain for its cryptocurrency Kin rather than the double on the main Stellar network. It is also said that the task force met other unnamed cryptocurrency projects.

The publication also reports that Facebook has rapidly expanded its blockchain division. A job announcement said the company "is a Facebook startup, with a vision to make blockchain technology work on a Facebook scale and improve the lives of billions of people around the world."

Facebook Crypto driving steps down from the Coinbase tab [19659004] A further boost to the coals of rumor is the announcement, for the first time reported by CoinDesk, that David Marcus, a vice president of Facebook and l & # 39; former head of the division of Messenger, he resigned from his position on the board of directors of Coinbase, a role originally assumed the giant of cryptocurrency last December.

Marcus, as reported by CCN, left his role at Messenger in May to direct the blockchain division of Facebook, where he reported directly to the CTO of Facebook Mike Schroepfer.

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Source: Twitter

A Coinbase The spokesperson told the publication that Marcus had resigned to avoid the appearance of a conflict of interest, leading to speculation that Facebook was preparing to make an important announcement about its cryptocurrency plans.

At the start of this year, financial reporter Cheddar sources said that Facebook is "specifically interested in creating its own digital token, which would allow its more than two billion users to facilitate transactions without money approved by the government. "

Cryptocurrency was also in the minds of Facebook CEO Mark Zuckerberg, who said one of his pe The rsonal challenges for 2018 are to learn more about "cryptography and cryptocurrency" technologies.

Close-up image of Shutterstock

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