A new report is featured in the coming altcoin news, showing that a professor is working on the development of Facebook Coin, which is something that has been dubbed for some time now. It is actually the MIT Professor Christian Catalini which is in the focus, currently on leave and working on the development of Facebook Coin, according to reports coming from Coindesk today.
The documents also show that two anonymous sources with knowledge of the situation told the crypto news site about Catalini’s collaboration with Facebook. The MIT Professor Christian Catalini is reportedly one of the more prominent researchers in the field of token economics and the author behind a report with University of Toronto’s professor Joshua Gans – revolving around initial coin offerings and the value of tokens.
What we know about the professor Catalini is brief information which shows that he was one of the people leading the MIT Bitcoin Project which successfully raised $500,000 and distributed $100 worth of Bitcoin to all of the MIT undergraduate students back in 2014. At the time, the MIT professor created a draft which shows the MIT Bitcoin Club as:
“…a student and blockchain-enthusiasts run club at MIT, whose mission is to increase awareness and use of cryptocurrency and to provide forums where blockchain-related ideas, projects, programs, and businesses can be studied, discussed, and developed. The club has also organized the MIT Bitcoin Expo every year since 2014 — a two day conference focused on all things blockchain (more on the expo below).”
The news about the MIT Professor Christian Catalini working on Facebook’s cryptocurrency were reshared on many best cryptocurrency news sites right after the news that Facebook is working on an altcoin and seeing investments worth $1 billion for its unique and bespoke cryptocurrency. In February 2019, another New York times report showed that Facebook is “hoping to succeed where Bitcoin failed” with a secret cryptocurrency project.
As the latest cryptocurrency news show, there are still no statements or comments from the MIT Professor Christian Catalini or Facebook’s crypto division. Meanwhile, last month Facebook was rumored to join the cryptocurrency space along with Twitter and Telegram, as well as a number of other digital giants.
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