Facebook May Acquire Blockchain Startup

IT giant could acquire Chainspace, which is working of smart contacts systems for payments
05 February 2019   711

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.

Goldman Sachs to Give Bullish BTC Forecast

Goldman Sachs experts expect to see bitcoin near the $ 13,971 mark
12 August 2019   238

While Wall Street representatives sometimes come back to criticize Bitcoin, the well-known investment bank Goldman Sachs gives its own forecast for the price of cryptocurrency. To the surprise of many, it turned out to be bullish.

A note for Goldman Sachs customers on Twitter shared by Three Arrows Capital CEO Su Zhu.

As follows from the publication, in the short term, Goldman Sachs expects to see bitcoin near the $ 13,971 mark.

An unnamed analyst builds his forecast based on the Elliott Wave Theory. According to him, with a high degree of probability, bitcoin will rebound from the level of $ 11,094 in the coming days. After this, the opportunity will arise “for at least one more leap to $ 12,916 and $ 13,971”.

On the other hand, a pullback from the indicated levels should be considered as an opportunity to buy cryptocurrency against the backdrop of weakness, if its rate does not fall below $ 9,084.

What is more surprising: that Goldman Sachs has a bullish target on BTC, that they have any target at all, or that they use Elliott Wave Theory? I'm personally most surprised they cant be bothered to use a chart that includes weekend price action.
 

Su Zhu
CEO, Three Arrows

Short-term stop orders for long positions should be placed at $ 10,791, according to Goldman Sachs.