While there have been looming speculations that the social media giant, Facebook, has interest in the creation of a blockchain network that will service WhatsApp, enthusiasts in the crypto space averred that building such network from scratch might seem difficult, however, stirring rumor that Facebook might soon partner Zilliqa (ZIL) to build the coin.
Nevertheless, observers opined that the chitchats must have been underpinned by the distinctiveness of the project, the ability to easily build on it, and the glorious expectations from the cryptographic project after launching its mainnet scheduled for 31st January 2019.
Others also backed their claim with the fact that Facebook and Zilliqa have certain things in common like: partner, share the same advisor, among others.
Rumour going around regarding Facebook building on $ZIL: • Evan Cheng: Zilliqa advisor & head of blockchain at FB • Mindshare partnership: FB is a partner of Mindshare • Ex-Facebook head of blockchain quits Coinbase to avoid conflict of interest: ZIL gets listed on Coinbase
In response to the ever worrying claim, the blockchain project capable of executing transaction in parallel, Zilliqa, proclaimed via its twitter handle that the rumor is such a baseless one, imploring people to refrain from spreading unconfirmed and bogus information on social media platforms.
We have been made aware of a rumour that has been circulating on a potential collaboration with Facebook. This is a baseless rumour and we would like to ask everyone to refrain from sharing fake information on social media.
After a colossal clamp down of crypto related ads on its platform early this year, the world renowned social media hulk, Facebook, eased the ban by lifting embargo on some ads. This time, the everlasting claim that Facebook might actually create its own cryptocurrency witnessed green light.
Bloomberg announced that the tech company is now developing a crypto coin that will grant the transfer of fund on its WhatsApp messenger application.
Even though the firm, according to the story, will need some time to work on its great strategy to protect the coin securely, Bloomberg noted that the Facebook is creating a stable coin with the aim of mitigating volatility effect.
With the latest clarification issued out by Zilliqa (ZIL), it is now somewhat clear that Facebook is still working on its strategies to develop its stable coin rather than partnering another cryptographic project irrespective of the time that would be required for creation.
Lawal Khalid Abiola is a creative writer, entrepreneur and innovation lover. He contributes to platforms like ThriveGlobal, and also an editor at PRKnot, a Public Relation firm at its threshold.
Lawal Khalid Abiola is an avid lover of Cryptocurrency.