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Facebook bought a cryptocurrency startup. He is developing a platform for smart contracts

 Cryptocurrency startup for Zuckerberg

Unexpectedly for all, Mark Zuckerberg’s company made the first purchase of a cryptocurrency startup for itself. Facebook chose company Chainspace working in the field of smart contracts and creating a platform for their operation.

While experts are thinking about the true reason for such a deal, Facebook is studying the technology of a startup and the prospects for its possible application in its work.

Cryptocurrency startup is interested in Facebook with its technology.

It is reported that the deal was closed at the end of January. Interestingly, the company did not advertise this information. Journalists learned about the fact of purchase from anonymous sources. His words confirmed, but without details, one of the employees of Facebook.

Also, an unnamed Facebook representative said that the corporation would not interfere with the work of a startup and change its technology. Facebook, along with other companies, is simply exploring the prospects and possibilities of using blockchain in its work. Therefore, the purchase of Chainspace is of interest to the corporation and is key from a technological point of view. Smart contracts platform for Facebook does not encroach.

The founders of Chainspace also assured that the sale of the company would not affect the essence of its services and the nature of the work. All documentation and software code will remain freely available.

Why Facebook acquired a cryptocurrency startup

There are many rumors in the market about the true reason for the deal between Facebook and Chainspace. It is believed that Zuckerbeg is preparing to release its own cryptocurrency, so that customers can transfer money through the WhatsApp messenger, which is also owned by Facebook, with its help. This information has published an influential business publication Bloomberg. It is assumed that if the service is launched, it will first be run-in in India.

Another opinion: Facebook is in the process of creating a stable blinked to the US dollar, which will allow to eliminate volatility with cryptocurrency calculations. Nevertheless, it is difficult to present at least some arguments in favor of this theory.

The fact that Facebook has been trying itself in a cryptocurrency environment has been spoken since 2014. David Marcus, former president of PayPal, is responsible for this business segment in the company.

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