tinyfav.com
tinyfav.com May 23, 2018


Facebook reportedly wants to create its own cryptocurrency

12 May 2018, 02:23 | Jermaine Blake

Facebook shakes up management, main divisions get new heads

Facebook management leaves to launch blockchain

Companies often shuffle executives to work on different products to bring a fresher perspective and to help the teams more easily identify problem areas.

According to the tech website Cheddar, Facebook is "very serious about it". "We don't have anything further to share".

David Marcus, former head of the Facebook Messenger app, will serve as a team leader of not more than 12 people conscientious to blockchain technology.

Speaking with anonymous sources close to Facebook, Cheddar claims the social media giant is considering the release of its own virtual token for electronic payments.

Messenger and WhatsApp each has more than 1 billion users, making them among the most widely used smartphone apps globally. He knows much about cryptocurrency for the fact that he's an early Bitcoin investor, and to cap it all, in December, 2017, he joined the board of Coinbase. Before being made VP for Facebook, he played an active role as president of Paypal.

Allardyce explains what it will take to lure Rooney from Everton
Liverpool - Wayne Rooney on Tuesday appeared to be closing in on a sensational move to Major League Soccer side DC United . Wayne Rooney is a professional football player who now plays for Everton .

Dennis loses pink on gruelling climb up Mt Etna
Four-time Tour de France victor Froome finished tenth among the first chasing group and alongside defending champion Tom Dumoulin. The Giro heads to the Italian mainland for Friday's seventh stage - a flat 159km route from Pizzo to Praia a Mare.

Devastated French defender Laurent Koscielny ruled out of World Cup
Mesut Ozil , Mohamed Elneny and Santi Cazorla are also all expected to miss the trips to Leicester and Huddersfield. Many people are questioning as to what the 68-year old will do next.

He added that the company is also evaluating how it can use blockchain technology to improve identity verification and secure its backend infrastructure - perhaps even including how it manages customer data.

Cheddar also revealed that Facebook has no plans to hold an Initial Coin Offering (ICO).

The social network is also among online platforms that came under fire for being used to spread misinformation and foment division ahead of the USA presidential election in 2016.

The venture would likely see Facebook make "strategic acquisitions" in the cryptocurrency industry as it seeks to build out its blockchain infrastructure. But the feature never gained traction, and Facebook shut it down two years later. Marcus told CNBC in February that despite his interest in the blossoming technology, it won't play a roll in the platform anytime soon.

"Payments using crypto right now is just very expensive, super slow, so the various communities running the different blockchains and the different assets need to fix all the issues, and then when we get there someday, maybe we'll do something", Marcus said in an interview with CNBC.



Other News

Trending Now

God of War photo mode now available
To explain each and every one of them we made a decision to create a short God of War Photo Mode Walkthrough. Until more updates come our way, Happy gaming.

Instagram Developing New Feature That Lets Users Add Music To Stories
Instagram code reveals an unannounced " music stickers " feature that will let users to search for and add a song to their posts. The new native payments feature is now available through limited partners and businesses on Instagram .

Falling New York Mets lose to Reds after batting out of order
For what it's worth, the Mets have been giving each of Cabrera and Flores at-bats in the second and third spots all year long. Cabrera was on-deck to hit second in the inning after Nimmo. "I've seen it in the minor leagues", Meals said.

5 takeaways from 2017-18 National Basketball Association season
The Rockets won two of three regular season matchups, which gives them a solid sense of confidence entering the series. Obviously, "Cavaliers win if LeBron James" isn't really a sentence, but at this point it may as well be.

Klopp confident Liverpool will seal Champions League spot
Former Manchester United manager Alex Ferguson is out of intensive care after emergency surgery on Saturday on a brain hemorrhage. And Wagner was full of praise for his players after Huddersfield guaranteed their Premier League place for another season.

China agrees to grant Japan 200b yuan RQFII quota
China had also resisted Japan's insistence that the agreement should not cover the territorial waters surrounding the islets, controlled by Japan.

Trump berates DHS Secretary Kirstjen Nielsen over border security
Nielsen "is hard at work today on the President's security-focused agenda and supporting the men and women of @DHSgov", he added. Trump reportedly railed against Nielsen on Wednesday, saying that she failed to adequately secure the USA border.

New Google AI can have real life conversations with strangers
Google has the upper hand in Smart Displays for many reasons. "We understand and value the discussion around Google Duplex ". The vision for Duarte and Google at large is to free up all that data and make the interfaces that lock it away disappear.

Thunderstorms accompanied with squall expected in Delhi, Haryana & other states: IMD
The India Meteorological Department has issued a five-day weather warning, with light to moderate rainfall in the northern states. Heavy rain is also likely in TN, Kerala, Assam, Meghalaya, Manipur, Nagaland and Mizoram in the next five days.

21 bodies recovered after dam burst in Kenya
It has reportedly caused billions of Kenyan shilling's worth of damage, with the force of the water levelling nearby structures. At least 10 dead have been confirmed and 2,500 residents displaced after Nakuru's Patel Dam broke its banks.