According to the report of overseas cryptocurrency media “Cheddar”, it became clear that Facebook completed the first acquisition in the block chain industry.
Acquired by Facebook is a company called Chainspace known as a small startup created by researchers at University College London in the UK .
In Chainspace, we are mainly developing distributed smart contract systems to promote services and settlement using block chains .
Acquisition is done in a form known as “acqui-hire” in Silicon Valley where many Tech startups gather, and from now you can see the interest in Facebook’s still inexperienced block chain industry.
According to someone familiar with this subject, it seems that four of the five researchers who contributed to writing Chainspace ‘s academic white paper have announced their participation in Facebook block chain team .
Also, Facebook did not take the direct acquisition of Chainspace’s technology with this acquisition, and he hired to hire a way to exploit block chain technology with a newly formed small team I will.
Article Source: Facebook Makes First Blockchain Acquisition With Chainspace: Sources
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Author: Shota 【Coin Desk News】 – Source Post: https://crypto-times.jp/facebook_first_acquisition/
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