Facebook Hires Researchers Behind Blockchain Startup Chainspace

Facebook Hires Researchers Behind Blockchain Startup Chainspace


Facebook recently hired the researchers behind the blockchain startup Chainspace from the University College London.

The social media giant has shown quite a lot of interest in blockchain space earlier as well. This acquisition-hire just adds to Facebook’s interest in crypto payments and smart-contracts further. Facebook’s growing blockchain group has over 10 job openings and is led by the former PayPal President David Marcus.

Talking about how Facebook’s entry would validate the importance of blockchain technology, Dave Balter, the CEO of crypto asset scoring platform, Flipside Crypto said:

“When they’re ready to launch publicly, Facebook entering the blockchain space will certainly validate what many of us already know: blockchain technology is a fundamental game changer”

Casey Kuhlman, the CEO of Monax, one of the leading companies using distributed ledger for helping companies manage their legal agreements, said:

“The fact that Facebook is leveraging experts in blockchain and smart contracts shows they’re one step closer to reaping the benefits of the technology when it comes to efficiency, collaboration, and the streamlining of processes”

According to Elias Haase, the Community Manager of the London-based blockchain trainer, B9Lab:

“Now the demand has shifted to truly qualified, multi-protocol professionals who need to be able to build, rather than write specs for whitepapers”

Even though the cryptocurrency values are plunging, there is a new impact initiative using the distributed ledger technology launched every week or so.

As per the Rutger van Zuidam, the CEO of a Dutch blockchain and AI hackathon, Odyssey:

“We have learned that the players who are building open markets and open data ecosystems that enable all possible stakeholders to contribute to collective success are the ones who are well placed to leverage blockchain”

The hackathon revolves around corporate, government and nonprofit teams co-creating solutions to some of the most pressing challenges faced throughout the world.

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Syed Ali Mudassar
It was when he was pursuing his graduation in Computer Science that he found his flair for writing about new and existing technologies. He likes researching about technologies and how they could help people. Currently, he works as the Content Manager at CoinFrenzy, a leading blockchain news, and media publication website.