Facebook Reportedly Talking to Crypto Exchanges to List a “Basketcoin”
William M. Peaster's original article for blockonomi.com reduced by 60%
The cryptocurrency plans of social media titan Facebook are apparently accelerating. That's per new revelations from New York Times correspondents Nathaniel Popper and Mike Isaac, who reported on Thursday that Facebook's progress on their in-house cryptocurrency was advanced enough that the Silicon Valley powerhouse had "Held conversations with cryptocurrency exchanges about selling the Facebook coin to consumers." Word of Facebook's in-house cryptocurrency first broke in December 2018, when Bloomberg reported the company was going to trial a stablecoin among Indian users of its chat app WhatsApp and that the pilot's initial focus was set for facilitating remittances. Facebook's cryptocurrency, if brought to fruition and released, will immediately and easily be the largest and most high-profile basketcoin the cryptoeconomy has yet spawned.
Facebook has taken extra steps to ensure the discreetness of the project, as NYT reports its builders work "In an office with separate key-card access so other Facebook employees cannot get in." This month, Facebook hired four smart contract platform experts from Chainspace, a startup that was developing a "Planetary scale smart contract platform." In the very least, Facebook now has the necessary in-house expertise to create a blockchain more complex than a basketcoin. This month, Facebook co-founder and CEO Mark Zuckerberg noted the company was exploring using a blockchain solution to facilitate distributed logins throughout the brand's ecosystem.
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CN [too long; didn’t read]
Summarised crypto news.