Blockchain News

Facebook intends to provide the most popular crypto product

Facebook intends to provide the most popular crypto product
Dec 7, 2018 by Rico Wise

Contradicting some of the prognoses of the blockchain community members, Pompliano declared on his Twitter account that Facebook will be responsible for the most utilized product in digital currencies. It was inferred by Mike Dudas, the creator of The Block, that the social media giant is currently hiring blockchain engineers without providing any specificity as to their job description, to which Pompliano responded that according to the Facebook’s track record of designing, scaling, and implementation, he presumes it is only a matter of time for the firm to take over the digital currency space.

It is worth reminding that previously, this August, Facebook was reported to plan on creating its own digital currency project on the basis of the Stellar blockchain, making it Facbook’s first assignment in the blockchain division. Despite the fact that Facebook denied any of the rumors regarding this initiative, it is still unknown what the firm’s blockchain dev crew will be busy doing.

In the meantime, Facebook proceeds with hiring blockchain engineers into its increasing blockchain crew. David Marcus, the head of Facebook’s blockchain division, has previously left his position as Coinbase’s board member, pointing at the conflict of interest, which, in turn, incited speculations as to the firm’s actual intentions of presenting a digital currency project. If so, such an event would become unprecedented due to the potential scale provided by more than 2 billion Facebook customers accessing the social media.

Pompliano thinks that Facebook has gathered a team of talents which is going to become a force to be reckoned with. Per him, Facebook has already shown its ability to pull off the most ambitious projects and present unparalleled growth to its undisputed customer base. If Facebook indeed launches a digital currency product, is has all the potential to either bolster, or even upstage the world’s most dominant digital currency, Bitcoin.

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