This is Cindy from Crypto Pig and today we have some pretty exciting updates to give you regarding Facebook and blockchain technology. Now Facebook the social media network giant has reportedly acquired chain space a small blockchain startup founded initially by researchers from the University of College London.
Facebook And blockchain
The startup was building decentralized smart contract systems that could undergo payment and other services by using their blockchain network it’s big news for the social media networking giant and it’s the first box and related acquisition for Facebook now according to cheddar.
Facebook has been in the blockchain and crypto space for over a year now recode reported last year in May 2018 the Facebook has assembled a block team with David Marcus the previous head of Facebook messenger jumping over to take charge and lead the new blockchain team.
Instagrams VP of engineering James Everingham and VP of Product Kevin well is also part of the new blockchain unit the addition of the new Brockton team led to Facebook undergoing a major internal reorganization within the company with many old faces in new roles while the block team is relatively new over 40 people are working in Facebook’s box in the division.
So it’s not as if Facebook has a doubled in the blockchain space before it’s just that Facebook has never acquired a box chain related startup in this circumstance Facebook is acquiring the chain space team but not chain spaces technology according to a spokesperson, like many other companies Facebook is exploring ways to leverage the power of blockchain technology.
This new small team is exploring many different applications we don’t have anything further to share it’s unclear how much Facebook paid to acquire chain space was however in the process of raising four million dollars luminous cap and M W partners were early backers of chain space so Facebook’s decision to acquire.
Facebook Bans Bitcoin Crypto Ads and ICO’s
Facebook has now cracked down on cryptocurrency ads from Bitcoin and other ICO’s. Facebook says this is done, as a safety measure to protect its viewers.
How’s it going this is Candace Falcone buzz for those that don’t know me I am one of the broadcasters on our podcast was just now listed on iTunes we just uploaded episode 4 a few days ago so take a listen and after the video, if you have any suggestions for any upcoming segments we can feature on the podcast let me know in this sea of red.
We are waking up every day to more implications of the cryptocurrency at the hands of the big elites so peanuts are starting to rise against claims of digital counterfeit, and lawsuits are being issued against influential figures a part of the schemes that have taken money from thousands and thousands of people bigwigs are starting to catch on to the unregulated cryptocurrency…
combat deceptive promotional practices so Facebook is banning all ads from loading cryptocurrencies including Bitcoin and icons for Facebook this move is the latest attempt to protect the integrity of its advertising platform which over the year… has been under a lot of fire for allegations of Russian tampering and false propaganda
The announcement claims that there are many companies that use Facebook’s platform to advertise financial products such as binary options cryptocurrency and ICObut do so not operating in good faith.
Facebook is known to target its users with ads pertaining to the data they have collected from its social media use Facebook, in turn, uses this data to profit by boosting prepaid advertisements and releasing them to the public so it uses a lot of algorithms to determine if you will like certain posts or not and then they take your likes on your posts and they’ll study your behavior and deliver you the similar content that you see every day as you’re scrolling through your feed.
Facebook is also highly dominated by big publishers who pay a lot of money to get a higher reach on Facebook, and publish their posts for that reason Facebook feels a lot more filtered and regulated, just with the ability to profit on boosting for advertisers so just how influential is Facebook, well Facebook partnered with Google owns 73 percent of all digital advertising in the US.
Over the years they have gained substantial revenue growth and control 83 percent of digital advertising profit sidenote raising money or crowdfunding using an IC L has been banned in South Korea
Facebook’s Libra loses support from Visa, Mastercard, eBay
Facebook’s Libra loses support from Visa Mastercard, eBay, Facebook’s cryptocurrency Libra has lost backing from payments giant’s Visa and MasterCard along with eBay, Stripe and Mercado Pago. This comes days after global digital payments giant PayPal dropped its support for Libra Naspers pay you, Spotify, uber and lyft is still listed among the founding members of Libra which Facebook had announced the Global Users on June 18th.
Tim Cook defends Apple removing HK police tracking app to staff Apple CEO, Tim Cook in a memo to employees defended the iPhone makers decision to ban the HK map live app that let people in Hong Kong track police activity, amid ongoing pro-democracy protests we believe this decision best protects our users Cook said, the apps removal came on the same day Chinese state media accused Apple of protecting anti-government rioters riot at Just Dial bug exposes 15.6 crore Indian users private data fixator security flaw found by cybersecurity researcher errors are made on Mumbai based hyperlocal search engine platform.
Just Dial exposed over 15.6 crore Indian users private data are made claimed that it potentially allowed a hacker to log into a user account bypassing the phone number….