Facebook May Acquire Blockchain Startup

IT giant could acquire Chainspace, which is working of smart contacts systems for payments
05 February 2019   257

Facebook made its first acquisition in the blockchain field, this is reported by Cheddar. Without any announcements, the team of a small startup Chainspace, founded by researchers from University College London, came under its control. According to the description, Chainspace is creating a decentralized system of smart contracts for making payments and other operations in the blockchain. According to whitepaper, team is going to create "distributed ledger platform for high-integrity and transparent processing of transactions within a decentralized system.”

As reported, the acquisition of the Chainspace team is by far the most vivid evidence of Facebook’s intention to become a major player in the field of emerging technology

Sources said that four of the five authors of white paper Chainspace will become members of the blockchain group on Facebook. Two of them have already indicated the London social network office as their current job.

Recently on the site Chainspace appeared information that the project is going to do something new. According to sources, the project will be eliminated, since most of its employees now work on Facebook. How the social network will pay off with a startup is unknown. Sources say that before this Chainspace was in the process of collecting primary funding and was guided by an amount not exceeding $ 4 million.

A spokesman for Facebook confirmed the hiring of members of the Chainspace team, but declined to elaborate. He also noted that the company does not plan to acquire the startup technology, and cited a earlier official statement.

Like many other companies, Facebook is exploring ways to leverage the power of blockchain technology. This new small team is exploring many different applications. We don’t have anything further to share.
 

Facebook Spokesman

Currently, the blockchain division of Facebook, presumably, has more than 40 employees. At the end of last year, it became known that the company could develop a steeblecoin for making transfers in the WhatsApp messenger.

MEW to Launch KYC-less Crypto Withdrawal

Service is available in Euro and Francs to all bank account holders with an international bank account number (IBAN)
21 February 2019   81

MyEtherWallet, a popular cryptocurrency wallet, in collaboration with the Swiss company Bity, introduced the Fiat service, which allows you to exchange digital assets for euros and Swiss francs without verification.

It is noted that the service is available to all bank account holders with an international bank account number (IBAN).

Bity is able to offer this kind of KYC-less Exit-to-Fiat gateway because it is compliant with the Swiss Anti Money Laundering Ordinance (AMLA). This, along with technology that helps verify proof of wallet-ownership, allows Bity to realize the friendliest kind of user experience — frictionless, secure AND regulatory compliant.
 

MyEtherWallet Team

To use Exit-to-Fiat, the user must specify Bity as the service provider in the asset exchange section. You will also need to provide a phone number, bank account details and a billing address.

This information is transmitted to Bity to comply with legal requirements and is not stored by MyEtherWallet.

The maximum transaction size is limited to 5,000 francs (about $ 5,000).