Home / Crypto News / When will the Google and Facebook cryptocurrency come? Both companies have the blockchain firmly in view

When will the Google and Facebook cryptocurrency come? Both companies have the blockchain firmly in view


According to a report, Facebook has bought its first blockchain startup. The young company is called “Chainspace”. It was founded by researchers from University College London. The company's goal is apparently to create a global platform for smart contracts.

Opposite the website Cheddar, a spokesman for Facebook declared:

“Like many other companies, Facebook explores the possibilities of using Blockchain technology. This new, small team is testing many different applications. Next we have nothing to tell. “

According to people familiar with the matter, four out of five people who designed the Chainspace whitepaper go to Facebook. Two of the authors, Alberto Sonnino and George Danezis, have already adjusted their profile on LinkedIn. It says that they are Blockchain researchers on Facebook.

Chainspace apparently wants to build a new platform for smart contracts. The company's white paper states:

“Chainspace is a distributed-ledger platform for highly intricate and transparent processing of transactions in a decentralized system. Unlike other application-specific distributed ledgers (…), Chainspace offers extensibility through smart contracts, such as Ethereum. (…) Furthermore, our platform is independent of the programming language and identity infrastructure used for the Smart Contracts and supports privacy-enhancing features through advanced zero-knowledge technology. “

The CEO of Facebook, Mark Zuckerberg, had already stated in January 2018 that Facebook is thinking about its own blockchain. In this connection he had said:

“Encryption and cryptocurrencies take power from centralized systems and return them to people. This is accompanied by the risk that they are more difficult to control. “

Google and the cryptocurrency

Google is also interested in the blockchain. According to a report by Forbes, Google wants to make its offer of cloud services more attractive. Of particular interest is that Google apparently wants to offer blockchain search services.

Numerous blockchain analytics companies are already trying to provide such a service. It is therefore not surprising that “Blockchain Detective” is a very young job description that owes its rise to the Blockchain Revolution.

However, with regard to the possible ambitions of Google, many things remain unclear. This includes the question of whether Google can muster similarly good algorithms for the blockchain as for the keyword search.

However, it is clear that in Silicon Valley many people are looking for ways to incorporate blockchain into daily applications. The answer to this question could turn into a trillion dollar business. What the future holds for all is still in the stars. In any case, we can look forward to a very interesting time.

Source: Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/wann-kommen-die-google-und-facebook-kryptowaehrung-beide-firmen-haben-die-blockchain-fest-im-blick/

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