Polychain Capital CEO Olaf Carlson-Wee thinks Facebook would be smart to build its stablecoin on a public, open blockchain infrastructure.
Carlson-Wee delivered his remarks at the Consensus 2019 panel "To the Moon and Back" on May 15.Carlson-Wee explained that the blockchain platform he is referring to is one like bitcoin's, in which the creator relinquishes control over the platform they built.
"I think given all the problems that Facebook has had with policing their platform and things like that, I think that the strategic move for Facebook would actually be to build public infrastructure. And that public infrastructure could be incorporated onto all the Facebook platforms, which of course are proprietary. But that public infrastructure, if they don't try to own it, I think that's where they will have the most success."
"The people that made the internet aren't responsible for everything that's said on the internet."
The CEO continued to share a broader vision for cryptocurrencies, in which they are used as a common and accessible store of wealth.
"If big technology companies want to put their resources toward building public peer-to-peer crypto infrastructure, I would be ecstatic."
As previously reported by Cointelegraph, an anonymous source told Bloomberg that Facebook will roll out its cryptocurrency, purportedly a stablecoin, some time in the third quarter of 2019.
Sources at the Wall Street Journal say that Facebook is seeking investments up to $1 billion to fund the upcoming "FB Coin.".
Polychain CEO Says Facebook's Rumored Stablecoin Blockchain Should Be Public
gepubliceerd op May 16, 2019
by Cointele | gepubliceerd op Coinage
Interview: Ethereum development suite Truffle CEO on the future of dApps, regulation, and Libra
Coulter built a career specializing in software testing and developer support, which became extremely valuable in the early days of blockchain development.
Indian Minister: No Official Ban on Cryptocurrencies in India Yet
India's Minister of State for Finance Anurag Thakur has said that there is no law in India expressly prohibiting the use of cryptocurrencies.
Chiliz to Provide Official Crypto of Football Club AS Rome via Socios
Italian football club AS Roma will join blockchain-based voting platform Socios through a partnership with sports and entertainment blockchain firm Chiliz.
KPGM to Work With Microsoft, Tomia and R3 on Blockchain Telecom Solutions
Business advisory firm KPGM has partnered with tech companies Tomia, Microsoft and R3 to create a blockchain-based settlements solution for the telecom industry, in anticipation of 5G network services.