Digital Currency Revolution Series: MIT's Economic Veteran In Focus For Facebook's New Coin

Mr.Christian Catalini is the founder of the MIT Cryptoeconomics Lab who is reportedly working for Facebook (FB) to develop their crypto-coin. 

The prime objective of the MIT Cryptoeconomics Lab is to encourage the research frontier in the evolving gamut of cryptoeconomics, where it blends the intricacies of computer science and economics to analyze the decentralized marketplaces and their applications that could be deployed by integrating cryptography with the economic incentives.

As the cryptocurrencies have resumed their bullish streaks amid the mixed bag of turbulence between constructive and adverse news. The lingering prospects among the Blockchain/FinTech space have led the keen interest continues to mount everywhere, reputed institutions from Big 4 auditing firms to the central banks of advanced economies have been investing into R&D projects of blockchain and cryptocurrency gamut. 

Ivy leagues like Stanford University, University of California at Berkeley, Harvard, CFA institute the US, and Edinburg Napier University, etc. Now, Massachusetts Institute of Technology (MIT) has also been no exception. 

Christian has established MIT’s crypto lab back in September 2017, who is then on leave from MIT and is presently focusing on Facebook’s new project to assist people to transfer value on the internet.

Christian is one of the principal investigators of the MIT Digital Currencies Research Study, which gave access to all MIT undergraduate students to Bitcoin in the fall of 2014. He is also part of the MIT Initiative on the Digital Economy and the recently launched Digital Currency Initiative.

He thinks although the blockchain technology is still in an emerging stage, Bitcoin's market cap has already hit $70B. Hence, he could foresee luring opportunities in the industry.

All together, FB is also seeking techno-savvies to develop blockchain ecosystem, as per Facebook’s official careers page so that Facebook could incept a stablecoin through which their clients can transfer money via WhatsApp.The stable coin would be made compatible with WhatsApp predominantly for the purpose of payments and transfers. While the price of a stable coin is to be pegged by the US dollar, euro, and other major national currencies stored in Facebook bank accounts. 

Overall, the coin integration potentially, likely have the scope of over 2.5 billion people across the globe via WhatsApp Messenger and Instagram, whose usage has been observed quite often. 

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards 77 levels (which is bullish), USD is at -8 (neutral), while articulating (at 08:23 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex