Diem Co-Creator Shifts Focus to Bitcoin

David Marcus. Source: Video Screenshot, SiliconANGLE theCUBE / YouTube


David Marcus, former Meta executive and co-creator of Facebook’s now offered Diem project, has moved his focus to Bitcoin (BTC), unveiling a brand new company, Lightspark, established for the exact purpose to understand more about, build and extend BTC’s abilities and utility.

“As an initial step, we’re positively assembling a group to dive much deeper in to the Lightning Network,” the entrepreneur tweeted.

Marcus stated he believes downturns like the one presently observed within the BTC &amp crypto market mark good possibilities “to concentrate on building and creating value with mission-aligned people. We’re excited to dive into Lightning, find out more, and work plus the community”.

The businessman stated the brand new company has guaranteed the backing of numerous investors through its first funding round. Included in this are Andreessen Horowitz (a16z), Paragidm, Thrive Capital, Coatue, Felix Capital, Ribbit Capital, Matrix Partners, Zeev Ventures, along with other financial industry players.

The need for the funds injected into his startup company wasn’t disclosed.

Located in La, Lightspark states it’s presently while assembling an engineering team, developers, cryptographers, and storage specialists, amongst others. Three job openings can be found at the moment, based on data from the organization.

Over his career in big tech, Marcus has offered because the founder and Chief executive officer of mobile payments provider Zong. His business was later bought by PayPal, resulting in the businessman’s appointment because the company’s v . p ., and then president. In 2014, he became a member of Facebook (now – Meta). At Mark Zuckerberg’s company, Marcus labored around the platform’s now offered stablecoin project, among other ventures. 3 years later, also, he became a member of Coinbase as part of the Board of Company directors, a publish he left in August 2018 after under annually. He left the Diem Association where he offered as Board Member last December.
Find out more: 
Meta States Adios to Diem – Nevertheless Its Buyer Really wants to Launch an expression of their Own
Lightning Network Adoption at Exchanges keeps growing: For this reason It’s Great for Bitcoin
Bitcoin Lightning Network Payments Hop Over 400%, 80M Users Get access to Network

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