MIT Crypto Economist Rumored To Be Assisting Facebook with Its Stablecoin Cryptocurrency
Christian Catalini, an economist from the Massachuset’s Institute of Technology (MIT), is rumored to be working at Facebook right now on the creation of Facebook Coin.
The rumors were first reported by Coindesk, which interviewed two inside sources who were allegedly in the knowledge of this situation. According to these sources, the MIT economist is helping the social media giant to lay out the framework for the new crypto token. The prominent economist was called by the crypto media outlet, but he declined to comment on the situation.
Most of the rumors affirm that Facebook is currently creating its own stablecoin and that it will be used by its billions of users, which will send the money to each other via Facebook or WhatsApp and that can use this money to make online purchases.
Facebook was also contacted by Coindesk and it has also declined to comment on whether the company had hired Catalini for the work on the new token or not. Recently, the CEO and creator of Facebook Mark Zuckerberg affirmed that “the future is private”, which says a lot about his new crypto.
Catalini received his Ph.D. in Strategic Management from the University of Toronto and is a very famous researcher in the crypto industry. He is currently one of the most important researchers working on the topics of the crypto economy. Last year, he authored a relevant paper on the industry together with Joshua Gans, a University of Toronto professor.
One of his latest works was written together with Catherine Tucker (MIT) and Susan Athey (Stanford). In it, the three authors discuss the disconnection between how users want to protect their privacy but they also give it up all the time.
About Facebook Coin
Facebook Coin is possibly the most awaited cryptocurrency ever created after Ethereum was launched. It will certainly have a huge impact on the market because Facebook has a huge user base, but all the analysis on whether it will be good or bad for the rest of the market are considerably distinct from the each other.
While some seem to believe that Facebook Coin will provide the so needed push for cryptos to become mainstream, some others are very concerned about the centralized nature of the token and its long-term impact on the industry.