As per a recent published by Cheddar yesterday, Facebook has reportedly deniedgetting intotalks with the crypto firm Stellar ‘XLM’. Earlier also a web report news was published by an American news agency ‘Insider Inc.’ according to which Facebook and Stellar had been consideringa possiblepartnershipto createa Facebook variant of a Stellar blockchain by business insider.
A Facebookinterpreterreportedly denied any partnerships saying that the company is not engaged in any discussions with Stellar,anddon’t seem to beconsidering building any thing on their technology.
This statement wascreatedin response to Business Insider’s report thatthecompanieshadmentioneda possiblefork fromtheStellar blockchain asa part ofits technological efforts. Sources from Stellar in reply told that:
“They wouldadd upfor Facebook to record payments transactions onto just like distributed ledger alike Stellar.”
However this news of partnership between the two companies still remains a mystery for the community now. Last year also, Facebook production team had to face questions for its messaging app called messenger in connection for the blockchain technology.
This year Facebook has been in an ongoing controversy in creation its own blockchain based crypto currency application though after banning cryptocurrencies and related products form its platform earlier in this year.Facebook prohibited crypto ads beneath a clause preventing advertisements for “financial product and services oftentimes related to dishonorable or deceptive promotional practices.”
Stellar was originally established as a payment technologydesignedon the Ripple protocol launched in year 2014. In July this year, Stellar obtained compliance certificationwithin thecashtransfer and asset tokenisation field which will help in its future expansion in the upcoming days.