There has been much excitement, discussion, and concern regarding Facebook’s forthcoming cryptocurrency, Libra. Wired told the story of Chainspace, the little-known London startup that made it possible.
One of the key moments in Facebook’s march towards the creation of Libra came in February 2019, when the company announced it had acquired Chainspace, a London-based, Gibraltar-registered blockchain venture which counted among its ranks several academics from the University College London Information Security Research Group, including George Danezis, one of the UK’s leading privacy engineering researchers. (Danezis did not reply to an interview request.) Founded in early 2018, over its relatively brief lifetime Chainspace tallied up several noteworthy achievements…“The real potential that we saw in Chainspace was one of the first serious implementations of state sharding across a trustless network,” says Lior Messika, an early investor in Chainspace with his VC company Eden Block. “We were impressed by a pioneering approach and solid plans for implementation.”