Christian Catalini professor at MIT is working on the Facebook coin – Reports

Christian Catalini professor at MIT is working on the Facebook coin – Reports

May 8, 2019 Editor's Desk

Christian Catalini professor at Massachusetts Institute of Technology is on leave and working on the development of the Facebook coin, according to some reports.

As per the reports, two anonymous sources with knowledge of the situation told about Catalini’s collaboration with Facebook. Christian Catalini — the Theodore T. Miller Professor at MIT — is reportedly one of the more prominent researchers in the field of cryptocurrency and token economies. He recently was involved in the making of a report with the University of Toronto professor Joshua Gans on ICO’s and the value of tokens.

Earlier this week, reports came out that social-media giant Facebook is seeking investments worth $1 billion for its upcoming cryptocurrency. According to reports that surfaced during May of last year that Facebook was looking up to the creation of its own token.

During the end of 2018, according to Bloomberg report, the company was creating crypto for users of its WhatsApp messaging service. Then, in February, a New York Times reported that Facebook is hoping to succeed where Bitcoin failed with its secret cryptocurrency project.

Catalini was one of the people leading the MIT Bitcoin Project, which raised $500K to distribute $100 worth of Bitcoin to all undergraduate students at MIT in 2014.

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