Facebook’s best digital currency engineers go to the a16z cryptocurrency hoard – Bollyinside – BollyInside
Two of Facebook’s top engineers on its blockchain and advanced money project passed on the organization to join Andreessen Horowitz’s crypto group, the investment firm told CNBC on Monday. Riyaz Faizullabhoy and Nassim Eddequiouaq went through the beyond two years chipping away at Facebook’s Novi computerized wallet, which was initially called Calibra. The work has confronted solid obstruction from controllers and legislators around the world, and some of its high-profile pioneers have withdrawn.
“Andreessen Horowitz has shown an impressive dedication to advancing the entire crypto ecosystem over the last decade. We have the opportunity to join their premier team and provide technical support to our rapidly expanding portfolio. “I jumped at,” Horows Laboy told CNBC in a statement.
Faizullabhoy and Eddequiouaq are the Chief Technology Officer and Chief Information Security Officer of Andreessen’s Cryptocurrency Team (a16z Crypto), respectively. In June, the company announced a new $ 2.2 billion crypto-focused fund.
After working on Facebook’s Novi Cryptocurrency Wallet for the past two years, Riyaz Faizullabhoy joins Andreessen Horowitz as Chief Technology Officer of Venture Capital’s a16z Crypto Team.
Andreessen is an active investor in cryptocurrencies and blockchain, hit hard by an early bet on Coinbase released in April, but Facebook hasn’t made much progress in this area yet. ..
Courtesy of Andreessen Horowitz
The company announced the Calibra and its Libra digital currency in a big way in 2019 and said it hopes to launch the product in 2020. With less than three months left in 2021, the name has changed, but neither has been released. Calibra became Novi and Libra was renamed to Diem last year.
Morgan Beller, one of the founders of Facebook’s cryptocurrency unit, left Novi’s position as strategic director in September 2020 to join venture capital firm NFX. Co-creator Kevin Weil left in March to join the satellite imagery company Planet Labs.
Marc Andreessen, who co-founded a16z in 2009, has been a Facebook board member for a year before the company was founded. Anthony Albanese, head of fund operations, said his crypto team has about 50 members, including external advisors. According to its website, the group has made 30 investments, including digital currencies, trading services and other cryptocurrencies. After working on Facebook’s Novi Cryptocurrency Wallet for the past two years, Nassim Eddequiouaq has joined Andreessen Horowitz as Chief Information Security Officer for the venture capital firm’s a16z Crypto team.
Courtesy of Andreessen Horowitz Albanese said the venture’s crypto strategy could address a wider range of issues than Facebook offers for Faizullabhoy and Eddequiouaq.
“They will advise portfolio companies on protocols and help ensure that they have the safest and most sophisticated systems,” Albanese said. “They were doing Facebook wallets,” he said. “It was more specific. Whereas I think here, they will have the opportunity to influence the crypto ecosystem on a really very large scale.”
Prior to joining Facebook, he worked for Anchorage, a digital asset banking startup. On Facebook, they have established a technical infrastructure to hold digital currencies within the company’s Novi wallet. “Cryptography is a once-in-a-lifetime step-by-step change in technology and has endless potential to empower everyone,” Eddequiouaq said in a statement. “It also brings a unique set of complex security challenges that every crypto project needs to recognize and address.”
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