Report: Facebook Acquires Blockchain Startup in Apparent First

Cointelegraph.com News

Social media giant Facebook has reportedly acquired a blockchain startup, marking an apparent first for the company.

Social media network Facebook has reportedly acquired Chainspace in its first apparent blockchain-related acquisition, Cheddar reports on Feb. 4.

Sources purportedly told Cheddar that Facebook acquired Chainspace, a small blockchain startup, in an ‘acquihire,’ or an acquisition of a company made primarily for the skills or expertise of its staff, rather than the service or products the company provides.

Chainspace, which was founded by researchers from University College London, was reportedly developing a decentralized payments system using smart contracts.

February 05, 2019 at 03:25AM Posted by cointelegraph