• Magdalena Gołębiewska

More names in Facebook "GlobalCoin"

Following a report by The Information claiming the social media giant’s “GlobalCoin” could debut as early as this month (June 2019), CNBC reported on 10 Facebook executives linked to the effort. Names and profiles you can find on CNBC website here.

Short summary is:

  • Christian Catalini is the Facebook crypto project’s chief economist.

  • Sunita Parasuraman is the manager of the Switzerland-based foundation leading the token project.

  • Some of the 10 executives working under Facebook blockchain lead David Marcus are based in Israel.

None of the 10 listed in the article come from cryptocurrency backgrounds, though some have past experience in financial technology. For example prior to joining Facebook, David Marcus was the president of PayPal.

Seems that social media giant doesn't stop. Nearly 30 open blockchain roles are listed on the Facebook careers page. A February acquisition of the blockchain startup Chainspace also added to Facebook’s crypto team – though the startup’s CEO only stayed on for a month.

“Here’s a privacy project, that’s what I like,”

Chainspace founder Dave Hrycyszyn told CoinDesk in May in a story about his new company.

Corresponding with previous reports from as early as December 2018, The Information, citing unnamed sources, says the Facebook cryptocurrency will be

“...designed to function as a borderless currency without transaction fees and will be aggressively marketed in developing nations where government-backed currencies are more volatile.”

The full timeline of everything you should know about Facebook’s cryptocurrency can be found om CoinDesk here.

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