By Anthony Pompliano Founder & Partner at Morgan Creek Digital in a recent statement declared that, contrary to many people’s beliefs in the crypto community, that Facebook will eventually build “the most used product in crypto” This was in response to a tweet by The Block founder Mike Dudas who stated that Facebook is in the process of hiring blockchain engineers without denoting what the role might be. Pompliano responded to the tweet, stating that given Facebook’s amazing track record of development, scalability and deployment, that he expects that it’s a matter of time before the social media giant will become the dominant figure in the crypto arena.
Many A Sceptic:
Back in August sources hinted at the fact that Facebook might be planning to build a massive cryptocurrency project upon the Stellar network as it’s blockchain division’s first project. Obviously, the social media behemoth flat out denied the rumours and since then it remains unclear as to exactly what company’s first blockchain team is working on.
In the meantime, Facebook has continued to recruit blockchain devs to join it’s growing team of blockchain experts. David Marcus, the lead at the Facebook blockchain division who recently resigned from his position as one of the directors on the board at CoinBase, which he attributes to a conflict of interest, which added fuel to fire of speculation, that the company is indeed planning to roll out a huge crypto project, which will be unprecedented in its potential scale considering Facebook’s 2 billion odd users. Many other sceptics, however, believe that Zuckerberg’s company is quite simply jumping on the Silicon Valley wagon and does not actually have any concrete plans or a definable blueprint to build upon.
Pompliano Has His Money On Facebook:
Pompliano, on the opposite side of the argument, firmly believes that Facebook has indeed assembled a team which has immense talent and should not be taken lightly. According to the Morgan Creek founder, Facebook has time and time again has proven that they have the capacity to execute the most ambitious of products as well as deliver unparalleled growth to it’s unrivalled and massive user base.
In a series of Tweet, Pompliano said:
“They have more 1B user products than any other company I believe. They out-executed everyone historically. You could go at most corporates, but Facebook ain’t it. […] Betting against David Marcus, Kevin Weil, Morgan Beller, Zuck, Chris Cox, and the FB growth team is insanity. I’ll ride with that crew any day when it comes to building, launching, and scaling products. Ask their competitors how it went last time.”
Back in May 2018, a Cheddar report claimed that Facebook has an interest in the development of native cryptocurrency platform in order to help it’s gargantuan user base implement transactions without the use of traditional government fiat currencies. However, without a current comment or hint from Facebook, it remains unclear what they might actually be planning with their blockchain technology endeavours.
Could Facebook indeed be creating the next big thing in blockchain? Could they actually pull it off? Let us know your thoughts by leaving a comment below.
Follow CoinBeat on Facebook, Twitter & Telegram
Subscribe to our CoinBeat Newsletter
Submit an article to CoinBeat
View live Marketcap Prices here
Comments