Facebook Buys Chainspace

Facebook Buys Chainspace

Finally, Facebook has made its first acquisition in the blockchain world. It acquired Chainspace, which is true gem in terms of human resources. It has been founded by a group of researchers from the University College of London and working on a decentralized smart contract platform.

As Cheddar reports, the acquisition was made in order to get some fresh brains for Facebook and calls it “acqui-hire” since four out of five founders are joining Facebook blockchain group. Some of them immediately changed their  LinkedIn job description into “I am working for Facebook, what did you achieve in life?”.

A Facebook spokesperson also told Cheddar that they acquired Chainspace’s staff not the technology. Cheddar believes that it “is the clearest sign yet of Facebook’s ambition to be a big player in the nascent blockchain industry”. Ok, we will see what these folks will be able to achieve. Read full report here.