- David Marcus, ex-Meta govt for Facebook Messenger, has introduced the creation of his new firm, Lightspark.
- Lightspark will give attention to constructing, exploring and creating on the Bitcoin Lightning Network.
- Marcus notes his passionate perception that led to this determination was the “need for change in our payments and financial systems.”
David Marcus, Facebook Messenger’s former lead and former PayPal govt, introduced the creation of Lightspark, an organization centered on constructing, exploring and creating on Bitcoin’s Lightning Network, in accordance to an announcement.
Marcus noted that Lightspark’s first step would be the creation of a workforce devoted to diving into the Lightning Network and that “Downturns are good moments to focus on building and creating value with mission-aligned people,” as bitcoin’s value at present sits round $28,000.
Marcus will function the CEO of Lightspark and plenty of ex-Meta, previously often called Facebook, executives will even maintain govt positions, in accordance to a report from TechCrunch.
While particulars are sparse on the services to be provided by Lightspark, an inventory of buyers was offered for the corporate’s first spherical which included: Thrive Capital, Coatue, Felix Capital, Ribbit Capital, Matrix Partners and Zeev Ventures. A16Z and Paradigm additionally participated and co-led this spherical.
Marcus did touch upon the ignorance offered on the corporate’s public define stating “We’re excited to dive into Lightning, learn more, and work alongside the community. We’ll share more about our work as we make progress!”
Marcus is credited with co-creating the stablecoin venture Diem, previously often called Libra, that was ultimately canceled by Meta due to regulatory pressures.
On November 30, 2021 Marcus announced that he could be leaving a seven-year dedication with Meta on the finish of the 12 months. At that second in time, Marcus gave us a glimpse that he could be coming into the bitcoin ecosystem when he stated “I remain as passionate as ever about the need for change in our payments and financial systems.”