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Mapping out the team behind Facebook’s blockchain efforts

Quick Take

  • Facebook’s blockchain efforts were publicly revealed in May 2018
  • Reports claim that the social media giant plans to develop a stablecoin backed by a basket of foreign currencies
  • Facebook’s blockchain team has grown to over 60 employees since its announcement

Facebook publicly announced that it had formed a new team dedicated to blockchain technology in May 2018, to be led by David Marcus, the former head of Facebook Messenger. This announcement kicked off a fresh news cycle with Bloomberg shortly after reporting that Facebook’s blockchain team has been developing a stablecoin for its Indian WhatsApp.