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Facebook Building Its Blockchain Unit, May Develop a New Cryptocurrency • Live Bitcoin N…

16 Dec Facebook Building Its Blockchain Unit, May Develop a New Cryptocurrency • Live Bitcoin N…

Posted at 14:27h in Cryptocurrency News by

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Facebook is working hard to expand its blockchain development team. The company is also rumored to be building its own cryptocurrency.

Blockchain and Social Media: Can They Work Together?

Facebook and crypto have had something of a mixed relationship in the past. The social media giant started 2018 by following in Google’s footprints and banning all advertisements relating to crypto, blockchain and initial coin offerings (ICOs).

Only months later, however, the company announced that it was partnering with the former president of PayPal David Marcus, who would head the company’s blockchain unit formed last April. Marcus says he’s a longtime cryptocurrency advocate and even served on the board of directors at Coinbase, one of the world’s largest and most popular cryptocurrency exchanges.

Who’s in Charge, Here?

Facebook’s blockchain unit now consists of over 40 individuals, with more than six reportedly coming from PayPal. The group also contains members of both Samsung Pay and…

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