The reports claim that a renowned professor at the Massachusetts Institute of Technology (MIT) has been employed by the social media giant, Facebook, to work on its cryptocurrency project.
Media reports have been quoting multiple unidentified sources close analyzers of the state of affairs at Facebook.
The venture, also being called the Facebook Coin, is said to now taking assistance from the partnership of a researcher in token economics named Christian Catalini.
Currently, Catalini is working at MIT. The career development professor Theodore T Miller recently authored a research report on collaboration with professor Joshua Gans from the University of Toronto providing insights to the worth of tokens and early coin presentations.
Catalini is a pundit of crypto and has raised almost half a million dollars to dispense USD 100 in BTC to MIT undergrad students a few years ago.
After breaking the news about the company creating instant currency for its messenger users last year, Facebook now apparently seems to advance up to one billion USD for its crypto project.
Facebook or Catalini have not remarked on this news till now. Everyone in the space has not observed positively at the Facebook Coin.
On the other hand, Wei Zhou- the CFO of the firm Binance has recently blamed Mark Zuckerberg the CEO of Facebook for aiming at crypto for his next technology domination.