A respected MIT professor works on Facebook Coine

By xlubecx | free life | 6 May 2019

Professor Christian Catalini of the respected American Technological University MIT (Massachustetts Institute of Technology) is currently taking a vacation to work on the development of the Facebook Coin cryptocurrency, according to CoinDesk.

This was confirmed by two anonymous sources close to the professor for CoinDesk, who confirmed they were working for Facebook. Catalini is one of the most important researchers in the field of digital token economics. He recently published, together with a professor at the Canadian University in Toronto, Joshua Gans, on the initial coin offering (ICO) and the value of tokens.

Earlier this week, news has emerged that Facebook is looking for investors for its cryptocurrency, from which it would like to earn one billion dollars. Among potential investors is also billionaire Tim Draper, who is known for his popularity in Bitcoin.

The speculations about Facebook's cryptocurrency first appeared in late 2018, when Bloomberg reported that Facebook wants to use its cryptocurrency in WhatsApp in India, where it is extremely popular. However, in February 2019, the New York Times said the cryptocurrency will eventually be dedicated to all applications that Facebook owns (Messenger, WhatsApp, Instagram) and that "it will succeed wherever Bitcoin failed."

Catalini first became visible in the context of cryptocurrency in 2014, when it contributed $ 500,000 to the MIT Bitcoin Project. These were then transferred to Bitcoin, which was distributed to MIT college students. Everyone got a $ 100 equivalent of BTC.

We will add that Facebook and Catalini refused to answer Cointelegraph questions about their cooperation.

Facebook Coin should be stablecoin, so its price will be tied to the value of the US dollar. According to one of the leading representatives of the Stock Exchange Binance, the chief financial officer of Weia Zhou, it will be a strongly centralized name for the character of Mark Zuckerberg, which will have very little cryptocurrency .


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