Massachusetts Institute of Technology professor Christian Catalini is on Vacation and working on the growth of Facebook coin, Crypto news outlet Coindesk announced on May 3. Facebook is allegedly developing a stablecoin which will allow its billions of users to transfer money and make online transactions.
As per the report, two anonymous sources having knowledge of the whole situation stated Coindesk regarding Catalini's partnership with Facebook.
Catalini, the Theodore T. Miller Career Development Professor at MIT is probably one of the main scientists in token economic principles. He lately co-authored a report by partnering with the University of Toronto Professor, Joshua Gans on initial coin offerings and value offerings.
Previously, reports stated that social media giant Facebook is allegedly wanting investments worth $1 billion for its unknown cryptocurrency. Reports also state in May 2018 Facebook was exploring its own token.
Catalini is one of the notable scientists who is working on token economic theory. He including University of Toronto Professor Joshua Gans co-authored a potent 2018 document on Crypto-tokens significance.
In one of the Catalini's latest papers, scripted with Stanford's Susan Athey and MIT's Catherine Tucker is mainly about disconnecting the expressed desire of customers and in protection and privacy and their clear hesitation to give it back.
In the recent F8 Developer conference, CEO of Facebook, Mark Zuckerberg stated, "I believe the future is private."
In 2013, Catalini collected his Ph.D. in Strategic Management from Toronto University. Later in the end of 2018, Bloomberg stated that Facebook is building a cryptocurrency for customers of WhatsApp Messaging Service.
Then, in one of the New York Times articles in February, Facebook stated, it is "hoping to succeed where Bitcoin failed" with an extremely closed crypto project. Catalini was among one of the person who was directing the Bitcoin Project, he has collected $500k to distribute it $100 worth of Bitcoin to MIT Undergraduate students back in 2014.