Follow us on or join ours

Facebook he acquired technology-based blockchain a start-up called Chainspace, specializing in smart contracts that improve the payment system and other services.


Chainspace was founded by scientists from University College London. The solutions developed by them attracted the management of the most popular social platform, which seems to be more and more involved in the development of the crypto sector. The main goal of taking over the star-up by Facebook was to integrate the internal team with the Chainspace team,

The Chainspace team worked on a project to create a distributed accounting platform aimed at fully transparent transaction processing in a decentralized system, focusing primarily on the speed and scalability of transactions. Nevertheless, Facebook does not acquire Chainspace technology, but a team of experienced programmers, so the future of the project on which the start-up worked was quite uncertain.

Despite the takeover of Chainspace, Facebook's policy towards cryptocurrencies is not favorable to them at all. This is also proven by the blocking of ICO ads and cryptocurrencies by the portal. Although this ban has been partially lifted, many operators in the cryptographic industry can not post their advertisements on Facebook, unlike other companies in the fintech category.

However, there are many indications that the king of social media is going to become an important player in the crypto area, as evidenced by the Facebook development project own cryptocurrencythat can be used as a payment medium in Messanger and WhatsApp applications.

Various contradictory activities of the portal led to the creation of many hypotheses related to the interest of the platform in the area of ​​cryptocurrencies. Although none of them has been confirmed, it is certain that Facebook understands perfectly well that the current technological evolution can have a big impact on the future of the platform. This is evidenced by the fact that Mark Zuckerberg has recently hired many experts in the area of ​​cryptocurrencies and blockchain technology.

5 / 5 - (5 votes) is a cryptocurrency site run by a crypto team of enthusiasts. The main area of ​​our interest are cryptocurrencies, tokens, personal tokens as well as blockchain technology. On the pages of our website we will present independent cryptocurrency reviews and interesting articles from the market. In addition, we present the current rates of all critics. The site also has a multi-functional cryptocurrency calculator as well as traditional currencies.

The information published on the cryptocurrency website are not financial recommendations and do not constitute investment recommendations within the meaning of the Regulation of the Minister of Finance of 19 October 2005 on information being recommendations regarding financial instruments, their issuers or issuers (Journal of Laws of 2005, No. 206, item 1715). The information published on the pages of the portal does not constitute an offer. is not responsible for any decisions taken under the influence of data presented on the Website. Portal does not bear any responsibility for the possible use of information on the website.

Investments in OTC market instruments, including currency exchange rate (CFD) contracts, due to the use of the leverage mechanism, entail the possibility of incurring losses exceeding the value of the deposit. It is not possible to make a profit on transactions on OTC instruments, including currency exchange contracts (CFDs) without risking a loss, therefore contracts for exchange differences (CFDs) may not be suitable for all investors.

© Copyright 2019

My Newsletter

Sign Up For Updates & Newsletters