Facebook Strengthens Their Blockchain Team

Here is a quick crypto post about Facebook. Facebook just hired a new director of engineering named Evan Cheng, appointed officially as "Director of Engineering, Blockchain." Evan Chang previously worked for Apple roughly 10 years. He also worked on compilation technology and other back-end engineering projects, as well as tweets about blockchain technology and is reportedly an adviser to a number of blockchain startups/projects.

Evan is not the only Facebook employee working on Blockchain solutions. Long-time Messenger chief David Marcus heads the group, while Instagram’s, which is owned by Facebook, former Vice President of Product Kevin Weil has taken up the position of Vice President of Product, Blockchain at Facebook. This is all in addition to Facebook switching its stance on crypto ads. Last month, Facebook readjusted their stance on banning all crypto ads on their site. Facebook will now review crypto ads and if they pass their standards, then Facebook will allow the ads on their site. There are also rumors that Facebook is creating their own crypto currency for micro transactions.

This all looks like good news to me. Once Facebook hops back on cryptos, expect other big tech companies to follow suit. Coinbase also approved investments for institutional money to hop on board. This could be a good opportunity to start buying up cryptos while the price is low and before the word starts getting out again. Let me know what you guys think and thanks for reading.

https://cryptonews.com/news/facebook-strengthens-its-blockchain-team-2184.htm