It became known that Facebook made its first acquisition of a blockchain startup company. It would appear that the boom of the blockchain technology noticeably halted and those who were interested in it already got their own blockchain groups. However, the company of Mark Zuckerberg was more careful about this serious decision. But still, in January, Facebook acquired its first blockchain startup, Chainspace, launched by researchers from University College London. Chainspace specializes in smart contract development. The aim behind the realization of the platform is to create a distributed web of blockchains for high scalability, speed, and privacy. There are several possible reasons for it. Bloomberg reported that Facebook was preparing to launch its own cryptocurrency enabling users to transfer money through WhatsApp. According to the agency, the new service will primarily be targeted to the money transfer business in India. In addition, some sources in the company claim that the social media giant was more interested in developers than the platform itself. The engineers will probably work towards optimizing Facebook’s own blockchain developments.
