Blockchain News

Facebook enters Blockchain technology by hiring team from Chainspace

As per the report published in Pymnts, Facebook is planning to make its presence in the blockchain technology with few of the new team and new employees.

The big reputed firm has lately been capitalizing a lot of money and resources in the blockchain technology and has even appointed four people who were contributory in the blockchain startup Chainspace. As per to its website, Chainspace is an environmental scale smart contracts platform,”, and in a note, it said that its team was moving on to something new.

Facebook, has always been true and open about its view and wish to investigate blockchain technology. David Marcus, in May of 2018, the former lead on Messenger, mentioned that he was collaborating with a new group so that he could open up on how to best influence blockchain across Facebook, starting from below. As per the report, the team has been the one that the former Chainspace founders are joining.

The attainment of Chainspace’s team, a move is known in Silicon Valley as an acqui-hire, is the strongest signal yet of Facebook’s drive to be a big performer in the promising blockchain industry. Veteran Facebook decision-making and former PayPal ($PYPL) President David Marcus was appointed to lead Facebook’s blockchain group in 2018.

Reports from within the Mark Zuckerberg led company has also discovered that there are other blockchain related job openings up for takes in the corporation, with positions such as public policy managers, marketing roles and a software engineering manager role in Israel.

A spokesperson from Facebook confirmed to Cheddar that the corporation had hired employees from Chainspace but failed to comment on some of the hires.

In December of 2018, it was reported that Facebook was functioning on its own cryptocurrency to enable WhatsApp users to send and get currency.

Facebook said to the reporting publication,

Facebook said to the reporting publication

The Chainspace website presently lists 11 staffers and four advisors on its team page. Now sitting atop the site’s homepage is a message teasing Monday’s news:

site’s homepage is a message

Paul Jolin

Paul Jolin is an economist having experience in financial research. He joined CoinNewsSpan in 2017 and since then has been working with the team to offer best price analysis and review stories on the crypto space. He is optimistic about blockchain technology's use cases in terms of financial freedom. He also has experience as an independent trader.

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