By A Massachusetts Institute of Technology (MIT) professor by the name of Christian Catalini has taken a leave period from his Ivy League position to help work on the development of Facebook Coin, according to a report released on May 3.
As per the report, two anonymous sources with knowledge of this told the press about Catalini’s involvement with Facebook. Catalini, who is also known as the Theodore T. Miller Career Development Professor at MIT, is allegedly one of the more notable researchers in the field of token economics. Catalini recently co-authored a report on initial coin offerings (ICOs) with University of Toronto professor Joshua Gans.
As reported by CoinBeat last week, news about Facebook seeking investments worth $1 billion for its own cryptocurrency broke last week. The first reports that the social media giant was exploring a token of its own broke last year May.
By the end of 2018, Bloomberg published a report which stated that Facebook was creating its own crypto for users of Whatsapp. Earlier in February, a New York Times report stated that the social network is “hoping to succeed where Bitcoin failed” with its secretive cryptocurrency project.
At the time of press both Catalini and Facebook have yet to respond to the press reports on the recent development.
Notably, Catalini was one of the minds leading the MIT Bitcoin Project which managed to raise $500K to issue $100 worth of Bitcoin to all undergraduates at MIT back in 2014.
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