Facebook’s New Cryptocurrency and Blockchain Team Allegedly Works in an Isolated Work-Space

It's no secret that Facebook has been keeping its crypto developments under wraps over the past many months. However, an all-new article published by CNBC yesterday seems to suggest that even other company employees don't know what their crypto team is really up to.

As per insider sources, the social media juggernaut has created isolated silos where the cryptocurrency team can work uninterrupted. Not only that, but this office space also requires users to own a unique set of key-cards that other Facebook employees do not have access to.

More On The Matter

As many of our regular readers may already be aware of, Facebook's blockchain and cryptocurrency efforts are being helmed by David Marcus — the ex-President of global payments giant PayPal. Additionally, reports also claim that the company has recently hired people from rapidly growing blockchain firms such as Chainspace.

In addition to all this, a recent Bloomberg article claims that FB’s executive brass has been looking to introduce mainstream users to digital currencies by allowing them to send/receive money via everyday messaging services such as WhatsApp. If this vision does, in fact, come to fruition, Facebook could be on its way to changing the way in which global remittances are made.

Final Take

Cryptocurrencies (particularly BTC) entered mainstream consciousness back in 2017 when the price of a single Bitcoin scaled up to USD $20,000. However, since then the flagship currency has seen its value tumble by over 80% — with 1 BTC currently trading around the $3,800 mark.