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In Its 1st Blockchain Deal, Facebook Acqui-Hires Chainspace

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Last year in January, Facebook founder Mark Zuckerberg showed its interest in both cryptocurrencies and technology behind it — Blockchain. Thereafter, the social networking giant seriously started exploring ways to leverage the power of blockchain technology.

Now in a latest to this “Facebook-Blockchain” news, the company has reportedly made its first acquisition in the blockchain industry by acqui-hiring a-year-old blockchain startup Chainspace, reported Cheddar, a blockchain industry news portal.

The acqui-hiring report, which is yet to confirmed by Facebook, said that Facebook had hired most of the core team behind Chainspace but not any of the startup’s technology.

Based out of Gibraltar, a British Overseas Territory, Chainspace is a planetary scale smart contracts platform. An all purpose blockchain infrastructure for mavericks, entrepeneurs and enterprise.

Launched last year, by Dave Hrycyszyn, George Danezis and Alberto Sonnino, the Chainspace platform is powering a community of makers who are committed to building decentralized services that allow to have greater ownership and control of how to interact with the digital world.

According to Chainspace website, a global software consultancy is using Chainspace on the EU project Decode, creating civic services for the cities of Barcelona & Amsterdam.

Facebook has been aggressively recruiting academics, product managers, engineers, and legal experts with experience in cryptocurrencies and blockchain technology.

A couple of months back, it was reported that Facebook is working on making a cryptocurrency called ‘Stablecoin’ that will let users transfer money on WhatsApp messaging app, with India being its first remittances market Facebook will be focusing at.

Via ~ Bitcoin Exchange Guide

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Vardaan
Founding editor at IndianWeb2, he's been writing at IndianWeb2 since 2007. Apart from blogging he had a professional career of software developer, Ux developer and search engine marketer in past. His vision of IndianWeb2 has been laid down so as to showcase, encourage and propagate Indian startups, innovation and entrepreneurship ideas.

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