Facebook getting into crypto? Rumors abound as new Blockchain Chief revealed

09 Jul, 2018
by David Borman
News
Facebook getting into crypto? Rumors abound as new Blockchain Chief revealed

Rumors of Facebook getting involved with cryptocurrency are nothing new, but now fuel has been thrown onto the fire as the company has announced that Evan Cheng will be the first appointed Director of Engineering, blockchain. Cheng previously acted as head of Programming Languages & Runtimes at the company since 2015 and before that worked as a Senior Manager at Apple.

It's being reported that this announcement points to the fact that Facebook does seem to be headed in the direction of some type of crypto integration. In light of the recent decision to reverse the ban on ads for cryptocurrency on its platform, it seems to be setting the stage for a larger embrace of the technology. It has been rumored recently that Facebook may be interested in purchasing Coinbase, though no official comment has yet been given from either company.

To further add relevance to this, in May Facebook tasked the head of its Messenger division, David Marcus, to begin researching blockchain applications for the company. Also recently, Kevin Weil has been appointed to VP of Product, blockchain. These changes, taken together make it clear that Facebook intends to be part of the future of blockchain, at least in some capacity.

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