Facebook, the giant social media firm is planning to bring its own Stablecoin to make its billions of users to transfer money to each other and also to make online shopping. The company is apparently seeking to include Christian Catalin in the development process of the Facebook coin.
According to people aware of the development said that Christian Catalini, one of the leading researchers of the crypto industry, has currently taken a break from MIT (Massachuset’s Institute of Technology) and is assisting Facebook to create a Facebook coin.
Christian Catalini – a famous crypto economist, is rumored to be working with the popular social media firm Facebook in order to help the company in their cryptocurrency project, sources reported.
When the source contacted Christian Catalini, he refused to make any comment. Earlier, two people were asked by the sources, who were familiar with the situation and had knowledge about the matter. As per the sources, the crypto economist of MIT is working with Facebook and helping the firm to design the framework of the new crypto coin.
During the F8 developer conference of Facebook, CEO Mark Zuckerberg said that “I believe the future is private.”
Christian Catalini is a crypto economist, and in 2013, he received his PhD in the field of Strategic Management through the Toronto University and also a well-known researcher in the crypto world. He is the most important crypto economist who is working on crypto economic related topics.
The recent work of Catalini was along with Susan Athey of Standford and Catherine Tucker of MIT. The three authors have discussed the disconnection between the users, how users want to safeguard their personal data and their desire to surrender it.
He has also worked with Joshua Gans, the University of Toronto professor, and together co-authored an important report of 2018 related to the value of the crypto token.
However, when Facebook spokesperson was asked about it, the spokesperson said that they do not give any response to the internal matters of the company.
According to the speculations, Facebook is currently in the process of developing its own Stablecoin and will help billion of its users to transfer money to each other through their Whatsapp or Facebook and can even use them to do online shopping. However, the news has not been officially confirmed by Facebook. It will be interesting to see what Facebook is going to do in the days to come.
Facebook was even asked by a source whether the company has recruited Catalini to assist in their crypto token project but declined to comment.
People do have a double-sided approach towards the Facebook crypto coin, a few people believe it an important step towards the expansion of crypto and to make it mainstream, while others are worried about the long-time impact it will make on the industry and also about the nature of the crypto coin.
No matter what, if Facebook successfully builds its own crypto token, it will definitely affect the global market due to its massive user’s across the world.