Difference between revisions of "Meta (MVRS)"

Latest revision as of 06:18, 2 February 2023

Basics

Fka Facebook. Facebook rebranded to Meta (31-10-2021) in an embrace of the metaverse + NFTs.

Main crypto projects

Diem fka Libra. And the Novi wallet which will use Pax Dollars (20-10-2021) as the main currency during the test (instead of their own DIEM).
"Facebook is set to begin testing its cryptocurrency this year with plans for a public rollout in 2020, reports the BBC; referred to internally as GlobalCoin but then announced as Libra, the company is expected to reveal details of the project this summer; the digital currency will underpin the firm’s Project Libra, a worldwide payments network; Facebook has sought regulatory advice from the US Treasury, and held discussions with Bank of England head Mark Carney"

Big takeaways from the report:

Facebook is planning to launch a full payments network (rather than just remittances) and in discussions with payment networks Visa and Mastercard, payments processors such as giant First Data as well as large e-commerce merchants to support the launch.
Facebook is seeking up to $1 billion in investments collectively from these firms in order to act as collateral to bolster and back a stablecoin that will be associated with the payments network.
A stablecoin will exist as the currency of the payments system in order to eliminate credit card fees for merchants as well as to avoid the volatility of other cryptocurrencies like bitcoin and ether.
The company is considering tying the coin to Facebook's core ads engine, rewarding users for viewing ads and then purchasing goods, similar to how loyalty points rewards work.

Facebook's Project Libra now counts one in five staff as former PayPal employees, according to Bloomberg's Facebook insiders; per the sources, the coin, which could launch as early as Q3 this year, will be sandboxed in India via Facebook's WhatsApp. Facebook has also picked up two ex-Coinbase employees for its blockchain and other products; Jeff Cartwright has been tapped for policy and compliance work and brings experience from American Express and Goldman Sachs; Mikheil Moucharrafie has been hired as a compliance officer for the social media giant's blockchain project.
For a timeline so far (12-6-2109) check here
Has chosen Polygon for minting its Instagram NFTs (11-2022).

People on Facebook positions

Marcus, David; Board of Directors at Coinbase, ex-Vice President of Messaging Products at Facebook (left 1-12-2021).
Marc Andreessen; serves on the board of Facebook. His venture capital firm Andreessen Horowitz has invested more than $227 million in bitcoin-related startups as of July 19, 2015
David Marcus; Facebook Head of Calibra
Has around 60 people employed with blockchain related reasons (3-2019)
The ex-director of DARPA, Regina Dugan, was hired by Google in 2012 to head its Advanced Technology and Projects group, and that she was then hired by Facebook in 2016 to head their “Building 8” research group focusing on experimental technologies like brain sensors and artificial intelligence.
Evan Cheng; Director of Engineering at Facebook. Evan is one of the creators of LLVM which generates the low level machine code running every Apple device, as well as much of Google, Nvidia, and Intel.
Sam Lessin; also advisor for Ampleforth

People who used to work for/with Facebook

Linden, Lee; Bancor Mobile App Advisor “Lee Linden is an entrepreneur and early stage investor. Previously, he lead Facebook’s emerging initiatives in commerce, including Gifts and the Facebook Card. Lee founded Karma, a breakthrough mobile commerce platform which let smartphone users instantly send real gifts to others without the burden of physical mailing addresses. Karma was acquired by Facebook in early 2012.
Justin Rosenstein; Bancor Collaboration Software Advisor, is the co-founder of Asana along with Facebook co-founder Dustin Moskovitz
Badros, Greg; Advisor BAT, Angel Investor; previously: Facebook
Ben Davenport co-founded Beluga, which was sold to Facebook in 2011 and became Facebook Messenger.
The Winklevoss twins, (sued Mark for stealing “their” idea)
One or more are now working (together with) TrueUSD
Arik Sosman; (was) a member of Calibra

Other links

Peter Thiel, first outside investor, board of directors. However, may be stepping away from the board (4-2022).
About the connection between Facebook and DARPA: "First venture capital money totaling $500,000 came to The Facebook from venture capitalist Peter Thiel, founder and former CEO of PayPal. He also serves on the board of radical conservative group Vanguard DAC. Further funding came in the form of $12.7 million dollars from venture capital firm Accel Partners. Accel’s manager, James Breyer, was former chair of the National Venture Capital Association. Breyer served on the National Venture Capital Association’s board with Gilman Louie, CEO of In-Q-Tel, a venture capital firm established by the Central Intelligence Agency in 1999. This firm works in various aspects of information technology and intelligence, including, most notably, nurturing data mining technologies. Breyer has also served on the board of BBN Technologies, a research and development firm known for spearheading the ARPANET, or what we know today as the internet."
Client of Trail of Bits.
Got mentioned as one of the creditors of FTX (26-1-2023).

@@ Line 4: / Line 4: @@
 == Main crypto projects ==
-*[[Diem]] fka Libra. And the Novi [[wallet]] which will [https://news.bitcoin.com/facebooks-novi-launches-pilot-program-in-guatemala-and-us-using-pax-dollar/ use] [[Paxos|Pax]] Dollars (20-10-2021)  as the main currency during the test (instead of their own DIEM).
+*[[Diem]] fka Libra. And the [[Novi]] [[wallet]] which will [https://news.bitcoin.com/facebooks-novi-launches-pilot-program-in-guatemala-and-us-using-pax-dollar/ use] [[Paxos|Pax]] Dollars (20-10-2021)  as the main currency during the test (instead of their own DIEM).
 *''"Facebook is set to [https://www.theblockcrypto.com/tiny/project-libra-facebook-to-launch-stablecoin-based-payments-network/ begin testing] its cryptocurrency this year with plans for a public rollout in 2020, reports the BBC; referred to internally as GlobalCoin but then announced as [[Libra]], the company is expected to reveal details of the project this summer; the digital currency will underpin the firm’s Project Libra, a worldwide payments network; Facebook has sought regulatory advice from the US Treasury, and held discussions with Bank of England head Mark Carney"''
 Big takeaways from the report:
-# Facebook is planning to launch a full payments network (rather than just remittances) and in discussions with payment networks Visa and Mastercard, payments processors such as giant First Data as well as large e-commerce merchants to support the launch.
+# Facebook is planning to launch a full payments network (rather than just remittances) and in discussions with payment networks [[Visa]] and [[Mastercard]], payments processors such as giant First Data as well as large e-commerce merchants to support the launch.
 # Facebook is seeking up to $1 billion in investments collectively from these firms in order to act as collateral to bolster and back a [[Stablecoins|stablecoin]] that will be associated with the payments network.
-# A stablecoin will exist as the currency of the payments system in order to eliminate credit card fees for merchants as well as to avoid the volatility of other cryptocurrencies like [[Bitcoin (BTC)|bitcoin]] and [[Ethereum (ETH)|ether]].
+# A [[stablecoin]] will exist as the currency of the payments system in order to eliminate credit card [[fees]] for merchants as well as to avoid the volatility of other cryptocurrencies like [[Bitcoin (BTC)|bitcoin]] and [[Ethereum (ETH)|ether]].
-# The company is considering tying the coin to Facebook's core ads engine, rewarding users for viewing ads and then purchasing goods, similar to how loyalty points rewards work.
+# The company is considering tying the [[COIN|coin]] to Facebook's core ads engine, rewarding users for viewing ads and then purchasing goods, similar to how loyalty points rewards work.
-* Facebook's Project Libra now counts one in five staff as former [[PayPal]] employees, according to Bloomberg's Facebook insiders; per the sources, the coin, which could launch as early as Q3 this year, will be sandboxed in India via Facebook's WhatsApp. Facebook has also picked up two ex-Coinbase employees for its blockchain and other products; [[Jeff Cartwright]] has been tapped for policy and compliance work and brings experience from American Express and [[Goldman Sachs]]; Mikheil Moucharrafie has been hired as a compliance officer for the social media giant's blockchain project.
+* Facebook's Project Libra now counts one in five staff as former [[PayPal]] employees, according to Bloomberg's Facebook insiders; per the sources, the coin, which could launch as early as Q3 this year, will be sandboxed in India via Facebook's WhatsApp. Facebook has also picked up two ex-[[Coinbase]] employees for its [[blockchain]] and other products; [[Jeff Cartwright]] has been tapped for policy and compliance work and brings experience from [[American Express]] and [[Goldman Sachs]]; Mikheil Moucharrafie has been hired as a compliance officer for the social media giant's blockchain project.
 * For a timeline so far (12-6-2109) check [https://coinspice.io/news/facebook-coin-100-million-consortium-governed-by-visa-mastercard-paypal-uber/ here]
+*Has [https://newsletter.banklesshq.com/p/instagram-nfts-meta-facebook-gobblers-jpmorgan chosen] [[Polygon (MATIC)|Polygon]] for minting its Instagram [[Non Fungible Tokens (NFTs)|NFTs]] (11-2022).
 == People on Facebook positions ==
 * [[David Marcus|Marcus, David]]; Board of Directors at [[Coinbase (Company)|Coinbase]], ex-Vice President of Messaging Products at Facebook (left [https://decrypt.co/87277/novi-wallet-chief-david-marcus-leaving-facebook?utm_source=telegram&utm_medium=social&utm_campaign=smt 1-12-2021]).
-* [[Marc Andreessen]]; serves on the board of Facebook. His venture capital firm [[Andreessen Horowitz]] has invested more than $227 million in bitcoin-related startups as of July 19, 2015
+* [[Marc Andreessen]]; serves on the board of Facebook. His venture capital firm [[Andreessen Horowitz]] has invested more than $227 million in [[bitcoin]]-related startups as of July 19, 2015
 * [[David Marcus]]; Facebook Head of Calibra
 * Has around 60 people employed with blockchain related reasons (3-2019)
 * The ex-director of DARPA, Regina Dugan, was hired by [[Google]] in 2012 to head its Advanced Technology and Projects group, and that she was then hired by Facebook in 2016 to head their “Building 8” research group focusing on experimental technologies like brain sensors and artificial intelligence.
+*[[Evan Cheng]]; Director of Engineering at [[Facebook]]. Evan is one of the [https://awards.acm.org/award-winners/CHENG_5756445 creators of LLVM] which generates the low level machine code running every [[Apple]] device, as well as much of [[Google]], Nvidia, and [[Intel]].
-* [[Evan Cheng]]; Director of Engineering at [[Facebook]]. Evan is one of the [https://awards.acm.org/award-winners/CHENG_5756445 creators of LLVM] which generates the low level machine code running every [[Apple]] device, as well as much of [[Google]], Nvidia, and [[Intel]].
 * [[Sam Lessin]]; also [https://www.ampleforth.org/about/ advisor] for [[Ampleforth (AMPL)|Ampleforth]]
 == People who used to work for/with Facebook ==
-* [[Lee Linden|Linden, Lee]]; [[Bancor Token (BNT)|Bancor]] Mobile App Advisor “Lee Linden is an entrepreneur and early stage investor. Previously, he lead Facebook’s emerging initiatives in commerce, including Gifts and the Facebook Card. Lee founded Karma, a breakthrough mobile commerce platform which let smartphone users instantly send real gifts to others without the burden of physical mailing addresses. Karma was acquired by Facebook in early 2012.
+* [[Lee Linden|Linden, Lee]]; [[Bancor Token (BNT)|Bancor]] Mobile App Advisor “Lee Linden is an entrepreneur and early stage investor. Previously, he lead Facebook’s emerging initiatives in commerce, including Gifts and the Facebook Card. Lee founded Karma, a breakthrough mobile commerce platform which let smartphone users instantly send real gifts to others without the burden of physical mailing [[addresses]]. Karma was acquired by Facebook in early 2012.
-* [[Justin Rosenstein]]; Bancor Collaboration Software Advisor, is the co-founder of [[Asana]] along with Facebook co-founder Dustin Moskovitz
+* [[Justin Rosenstein]]; [[Bancor]] Collaboration Software Advisor, is the co-founder of [[Asana]] along with Facebook co-founder Dustin Moskovitz
 * [[Greg Badros|Badros, Greg]]; Advisor [[Basic Attention Token (BAT)|BAT]], Angel Investor; previously: Facebook
 * [[Ben Davenport]] co-founded Beluga, which was sold to Facebook in 2011 and became Facebook Messenger.
+*[[The Winklevoss Twins|The Winklevoss twins]], (sued Mark for stealing “their” idea)
-* [[The Winklevoss Twins|The Winklevoss twins]], (sued Mark for stealing “their” idea)
+*One or more are now working (together with) [[TrueUSD (TUSD)|TrueUSD]]
-* One or more are now working (together with) [[TrueUSD (TUSD)|TrueUSD]]
 * [[Arik Sosman]]; (was) a member of [[Calibra]]
 == Other links ==
-* [[Peter Thiel|Peter Thiel,]] first outside investor, board of directors
+* [[Peter Thiel|Peter Thiel,]] first outside investor, board of directors. However, [https://cointelegraph.com/news/marc-andreessen-may-step-down-from-meta-board-due-to-crypto-empire-reports may be] stepping away from the board (4-2022).
-* About [https://www.corbettreport.com/siliconvalley/ the connection] between Facebook and DARPA: ''"First venture capital money totaling $500,000 came to The Facebook from venture capitalist Peter Thiel, founder and former CEO of PayPal. He also serves on the board of radical conservative group Vanguard DAC. Further funding came in the form of $12.7 million dollars from venture capital firm Accel Partners. Accel’s manager, James Breyer, was former chair of the National Venture Capital Association. Breyer served on the National Venture Capital Association’s board with Gilman Louie, CEO of In-Q-Tel, a venture capital firm established by the Central Intelligence Agency in 1999. This firm works in various aspects of information technology and intelligence, including, most notably, nurturing data mining technologies. Breyer has also served on the board of BBN Technologies, a research and development firm known for spearheading the ARPANET, or what we know today as the internet."''
+* About [https://www.corbettreport.com/siliconvalley/ the connection] between Facebook and DARPA: ''"First venture capital money totaling $500,000 came to The Facebook from venture capitalist [[Peter Thiel]], founder and former CEO of PayPal. He also serves on the board of radical conservative group [[Vanguard]] DAC. Further funding came in the form of $12.7 million dollars from venture capital firm Accel Partners. Accel’s manager, James Breyer, was former chair of the National Venture Capital Association. Breyer served on the National Venture Capital Association’s board with Gilman Louie, CEO of In-Q-Tel, a venture capital firm established by the Central Intelligence Agency in 1999. This firm works in various aspects of information technology and intelligence, including, most notably, nurturing data [[mining]] technologies. Breyer has also served on the board of BBN Technologies, a research and development firm known for spearheading the ARPANET, or what we know today as the internet."''
-* Client of [[Trail of Bits]].
+* [[Client]] of [[Trail of Bits]].
+*Got [https://news.bitcoin.com/ftx-publishes-creditor-list-owes-millions-to-well-known-institutions-and-government-agencies/ mentioned] as one of the creditors of [[FTX (FTT)|FTX]] (26-1-2023).
 [[Category:Companies/Organisations]]