Facebook Strengthens Its Blockchain Team

When a promising new technology surfaces, most big name companies will appoint a few people to look into it and see if it can drive their business forward. Tech giants such as Facebook, Google, Amazon and the like are no exception, but Facebook just took a step further: a director of engineering has just been appointed Director of Engineering, Blockchain.



Evan Cheng is considered a well-respected “low level” computer engineer who was previously responsible for heading up Programming Languages & Runtimes at the company, a position he held for nearly three years, according to Techcrunch. His new position was first noticed on his LinkedIn profile and subsequently confirmed by Facebook.
He has also worked for almost ten years at Apple, with his last position there being Senior Manager, Low Level Tools. He also worked on compilation technology and other backend engineering, he tweets about blockchain and is reportedly an advisor to a number of blockchain startups/projects.

He’s not the only known Facebook employee working on blockchain solutions. Long-time Messenger chief David Marcus heads the group, while Instagram’s, which is owned by Facebook, former Vice President of Product Kevin Weil has taken up the position of Vice President of Product, Blockchain at Facebook.

Facebook has also readjusted its stance on banning all crypto-related ads late last month, saying that they will now allow crypto related ads (that are not initial coin offerings or binary options) from pre-approved advertisers, as part of an effort to “refine” its blanket ban policy with regards to crypto.

Also, Facebook is reportedly exploring the creation of its own cryptocurrency.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Source
Author: Sead Fadilpasic
Image Credit

Don’t forget to join our Telegram channel for Crypto, Business & Technology news delivered to you daily.

Bitcoin ‘Dies’ for the 300th Time, Trading At $7,300

Bitcoin (BTC) has recently “died” for the 300th time, according to 99Bitcoins Bitcoin obituary list. The cryptocurrency faced its “most recent death” in the latest “obituary” provided by Forbes.


Join in the fun and play on the world’s First Hybrid on-line Casino with BTC and Fiat currency payments. Check on-line for latest promotions.


Bitcoin celebrates its 300th death anniversary following an article from Forbes published May 30. The article claims that Bitcoin’s “Achilles Heel” is the huge amount of electricity required by crypto mining operations.

According to Forbes, Bitcoin miners underestimate the risks associated with energy consumption on the global scale. The report also stresses such issues as power theft and the cost of mining equipment that is becoming more and more expensive:
“Predictably, Bitcoin miners downplay both their energy usage and the threat it poses to ordinary people, ordinary businesses and the planet that they occupy.”

At the time of the latest “death” recorded by 99Bitcoins, BTC was trading at $7,312. In December, when Bitcoin died it’s 200th death, the BTC price hit the $11,000 mark. According to 99Bitcoins stats, the major cryptocurrency “died” 62 times this year.


Don’t forget to join our Telegram channel for Crypto, Business & Technology news delivered to you daily


This year, various pundits and public figures proffered their own suggestions as to why Bitcoin is doomed to fail, including the notorious Warren Buffet statement that Bitcoin is “probably rat poison squared,” and Bank of England Governor Mark Carney’s claim that BTC has “failed” as a currency.

While Bitcoin has recently faced its 300th death and dropped in value by around 20 percent last month, several prominent figures in the tech and business worlds have made bullish statements on its future. Recently, Apple co-founder Steve Wozniak said that “only Bitcoin is pure digital gold,” reiterating the statement of Twitter CEO Jack Dorsey that in a decade BTC will be the “single currency” of the world and the Internet.

According to Cointelegraph’s price index, BTC is trading at $7,407 at press time, having gained around 4 percent over the past week.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Source
Author: MaxPositives
Image Credit