Facebook acquired blockchain-startup Chainspace

in crypto-news •  4 months ago 

Founded by researchers at University College London, blockchain-startup Chainspace has come under the control of the largest social networking site, Facebook. Reports about it Cheddar.

Screenshot_1.png

According to whitepaper Chainspace, the project is creating a decentralized system of smart contracts for making payments and other operations in the blockchain.

According to available information, four out of five whitepaper authors Chainspace will become members of the blockchain group Facebook.

The startup team has already announced plans to 'do something new.' Most likely, the project itself will be eliminated.

The press service of Facebook confirmed the hiring of Chainspace employees.

'We are considering the possibility of using the blockchain, but do not intend to acquire the technology of a startup,' - said the representative of Facebook.

Chainspace had previously planned to raise $ 4 million in primary financing. The amount of the deal with Facebook is not reported.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!