Rumors: Facebook to collaborate with Stellar
Rumors: Facebook to collaborate with Stellar

Rumors: Facebook to collaborate with Stellar

By Amelia Tomasicchio - 10 Aug 2018

Chevron down

It is not news that Facebook is speaking with several crypto-related projects to explore how it can exploit the blockchain, in particular, the Stellar one.

In recent months, David Marcus, chief of the blockchain Facebook team has met Stellar to explore potential opportunities, someone said to Business Insider.

If Facebook wants to rival big banks, it could use the blockchain, said a person that is near to the Stellar team.

A Stellar insider told that Facebook could use the blockchain to record payments transactions onto a distributed ledger like Stellar.

After this news, Stellar Lumens (XLM) price gain a 6%, reaching the price of $0.23.

“They’d be taking the rug out from under the banks. They can add a bank more quickly than a bank could build a social network.”

Another Facebook’s insider said that the company is making a long-term bet on the blockchain, in a similar way to what they are doing with artificial intelligence.

Recently, Facebook is hiring a lot of blockchain experts, including a blockchain public policy manager to analyse policy issues.

Also, in May Shashwat Gupta, who previously worked at Samsung Pay, joined as a product strategist for blockchain. And the strange thing is that the word “blockchain” was removed from his LinkedIn profile after Business Insider talked to the Facebook spokesman.

Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist, and also PR manager for the Italian market at Bitget. She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.