Recently, many Blockchain projects experienced the squeeze and were forced to let staff go and downsize operations. The NEM Foundation was one of the latest projects among the growing list of those battered by bears, as it experiences a complete restructuring. For all the bigger players looking to scoop up tech talent for their crypto market ambitions, this is a piece of good news.
One of the latest examples is Facebook, as this social media giant recently acquired the team called Chainspace. As per the RBC internet analyst, Zachary Schwartzman, crypto market and blockchain may be a huge threat to Facebook likes. As computing moves to public blockchains in which he described them as the “embryonic stages of a potential massive paradigm shift.”
Schwartzman elaborated on CNBC
On the surface, it may appear that Facebook purposefully hired the technical team related to DECODE. But we don’t believe this was the case. Our view is that this was simply an acqui-hire to expand…