Will Facebook be the next big player in cryptocurrency?
Facebook’s recruitment of top-tier blockchain engineers is causing many to believe the company may be working on a project tied to cryptocurrencies. Morgan Creek’s Anthony Pompliano believes they have the resources to create the “most used product in crypto.”
A report back in August by CCN hinted that Facebook was possibly planning to introduce a cryptocurrency project on the Stellar network, but Facebook was quick to deny the claims. Which leaves the question, what could Facebook possibly be working on?
No matter what the project may be or if it even exists, Pompliano believes it could have the potential of being the most popular product in the cryptocurrency industry. Referring to Facebook’s growth team, Pompliano tweeted,
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 ???♂️
— Pomp ? (@APompliano) December 6, 2018
With over two billion users Facebook has developed into one of the world’s most used social media platforms. If they’re able to create a product or service catered to their wide user base, Pompliano’s theory could very well be right.