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Facebook’s partnership with Stellar… illusion or reality?

Facebook’s partnership with Stellar… illusion or reality?

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Answer Facebook’s partnership with Stellar… illusion or reality?

There appears to be an unusual movement within Facebook’s walls, as a number of sources indicate that the team met with the heads of the Stellar project to talk about how the two companies can comprehensively benefit from blockchain-based payment solutions.

It is reported that the two parties discussed the possibility of Facebook splitting the Stellar currency and using it to create its own digital currency. This move is similar to what the Kik chat application has done by creating a platform that enables it to take advantage of blockchain technology and trade cryptocurrencies within the application more.

It seems that there are some reasons that support this theory, as Facebook has increased the number of employees in the Blockchain-related technologies department and is in the process of creating a new company affiliated with the parent company that seeks to make Facebook a source of digital currencies and also improve the lives of billions of people around the world – according to the company’s description -.

Read:Man faces 34 years in prison for “mining cryptocurrencies”

Also, it is ironic in this regard that the engineer David Marks, Senior Vice President of Mark Zuckerberg, was one of the former presidents of Coinbase, which is the most famous cryptocurrency exchange. David also left his original work in Facebook Messenger and headed to the blockchain department within the company, reporting directly to the board of directors .

The Coinbase spokesperson also stated that David has resigned from his position in the company to avoid a conflict of interest, and of course, a conflict of interest will not occur between a site for communication with a currency trading company, which confirms the data that speaks of Facebook’s desire to trade cryptocurrencies.

It is reported that the financial news site “Cheder” said at the beginning of the year that Facebook has a strong desire to create its own tokens, which will enable users to complete ease of dealing with an estimated number of 2 billion people around the world.

It seems to take a personal turn as well, Zuckerberg, who said at the beginning of the year that he aspires to delve deeper into the understanding of cryptocurrency technology.

Read:West Ham FC partners with Socios to launch a token for team fans

It is worth noting that Facebook lost 120 billion dollars in one day last week. It seems that the company faces many obstacles in implementing its plans, which pushes it greatly to search for new strategies to profit through it.


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