Is Facebook exploring blockchain?

A startup within Facebook is exploring areas of interest across all facets of blockchain technology, states the social media’s careers website.

May 8, 2018, David Marcus, inquiring into blockchain at Facebook, has stated in his post that he was setting up a small group to explore how to best leverage the technology across Mark Zuckerberg’s platform, from scratch.

And now rumour has it that Facebook has acquihired Chainspace, sharded and scalable blockchain platform.


Acquihire 

to acquire (= buy) a company in order to use its employees’ skills or knowledge, rather than for its products or services. 


At least two of the researchers behind Chainspace’s white paper have changed their status.

Alberto Sonnino and George Danezis already list their employment as blockchain researchers in Facebook’s London office.

No one outside Facebook has yet cracked why the company is creating a blockchain unit.

One of the possible explanations is that they want to be engaged with the technology that is the opposite of their centralized business model.

It’s interesting to note that to stay ahead of the competition,  over the span of last years, Facebook has added significant acquisitions to their business.

In 2012, Instagram cost them $1 billion. In 2014, they acquired Whatsapp for $19 billion.

The problem, though, is that blockchain is hard to buy even if you have all the money in the world.

@Facebook, if you want to acquihire AirdropAlert.com, we’ll be waiting for your message 😉

***

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