Cryptocurrency can be integrated into Facebook

Mark Zuckerberg studies the positive and negative aspects of cryptocurrencies and how best to use them in Facebook
05 January 2018   704

Facebook CEO Mark Zuckerberg is interested in studying cryptocurrency and encryption technologies with the aim of their possible integration into the world's largest social network.

According to him, one of the most interesting issues in the technology world is the rivalry of centralization and decentralization, and many are beginning to engage in new technology, because they believe that they can be that decentralizing will give more power to ordinary people.

However, today, says Mark Zuckerberg, many have lost faith in this promise. With the emergence of a small number of large technology companies and the increasingly frequent use of technology to monitor citizens by the state, people are convinced that technology is more likely to increase centralization.

There are important counter-trends to this --like encryption and cryptocurrency -- that take power from centralized systems and put it back into people's hands. But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.
 

Mark Zuckerberg

CEO, Facebook

Last year, experts on security and technology from Facebook and Google announced their intention to defend the "digital democracy" of the United States with the help of blockchain technology.

Bakkt to be Launched in December

It is also reported that Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure
19 October 2018   95

The expected launch of the Bakkt will take place on December 12 of this year. It is reported by The Block, citing informed sources.

Also, the material states that the investment bank Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure. At the same time, the bank is considering the possibility of trading futures on a new platform.

In a recent Fortune interview with Bakkt, Kelly Lofler said that the cryptocurrency market is on the verge of a revolution comparable in size to the one that occurred on the energy market in the early 2000s.

Greater institutional participation in the digital asset markets requires secure and regulated custody solutions. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.
 

Rana Yared

Managing director, Goldman Sachs’ Principal Strategic Investments group

Bakkt is a cryptocurrency unit of the Intercontinental Exchange (ICE), which is the operator of the New York Stock Exchange. Giants such as Microsoft and Starbucks are taking part in creating of the new project, which is positioned as an “ecosystem for digital assets”.

The new platform will offer deliverable bitcoin futures to the market (unlike the settlement contracts for CBOE and CME, these are based on the underlying asset). The platform will support multiple fiat currencies.