Facebook May Acquire Blockchain Startup

IT giant could acquire Chainspace, which is working of smart contacts systems for payments
05 February 2019   660

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.

Binance to Launch BTC-Pegged Own Chain Based Token

In this way exchange wants to transfer crypto based on own blockchains to its ecosystem and  increase liquidity and trading volumes at Binance DEX
17 June 2019   155

In the coming days, Binance Exchange will launch a series of BEP2-tokens, tied to different cryptocurrency rates, on its own Binance Chain blockchain. The first token of this type will be BTCB - its rate is tied to Bitcoin.

BTCB is backed with bitcoins located in Binance reserves. The address for storing bitcoins has already been made publicly available, so that users can verify that the token has the necessary support.

In the future, the BTCB / BTC trading pair will be launched on Binance.com. With its help, users will be able to convert the original cryptocurrency into the Binance Chain token. The price spread in this case will be about 0.1%.

According to Binance, in this way it can transfer cryptocurrencies based on its own blockchains to its ecosystem and currently not represented in the Binance Chain. The company expects the launch of new tools to increase liquidity and trading volumes at Binance DEX.

While this approach is more centralized than atomic swaps, we believe it provides a higher degree of ease-of-use to most traders. And most traders are already trusting Binance.com to hold their funds anyway.
 

Binance Team

To date, Binance has independently reserved 9,001 BTC and released 9,001 BTCB. The BTCB / BTC trading pair on Binance.com will tentatively appear within a day, and an asset will be added to Binance DEX after approval of the relevant offer.