Meta is following blockchain groups like Bolt Labs, Ciphermode Labs, and Partia Blockchain in joining the Cryptographic Privacy Group MPC Alliance.
According to a press release, Meta has joined the MPC Alliance, a nonprofit focused on cryptographic privacy and security.
Meta’s Move to Join the MPC Alliance
The MPC Alliance is a not-for-profit organization focused on cryptographic privacy and security. In this formation, Alibaba Group consists of 59 members, including engineering firm Bosch and a number of blockchain firms including Bolt Labs, Ciphermode Labs and Partia Blockchain.
Frank Wiener, President of MPC Alliance and Director of Marketing at Blockdaemon, said in a statement about Meta’s joining the MPC Alliance:
“Joining large institutions like Meta strengthens the alliance and provides more market validation”
Meta had previously planned to launch a cryptocurrency project called Libra, but later the plan changed and the project was later rebranded as Diem. The ensuing regulatory review led Meta to terminate the project in January. Following the termination of the project, Silvergate acquired the development, distribution and operation tools of crypto bank Diem.
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