Former Meta employees to develop new blockchain

Two former Meta employees, Avery Ching and Moe Shaik, have announced their work on the development of a new blockchain, Aptos.

According to Avery Ching and Mo Shaik, they are developing a «scalable general-purpose blockchain» for non-fungible tokens, social networks, and decentralized finance. The Aptos blockchain is being developed using the open-source Diem technology and the Move coding language developed by Meta.

The co-founders emphasized that they are ready to cooperate with large technology companies and social networks to make the future blockchain known to as many people as possible and to make Aptos «used all over the world.» Currently, the blockchain is undergoing various stages of testing and, according to Ching and Shaik, will be launched later this year.

It is worth reminding that in 2021, Avery Ching and Mo Shaik worked on the Diem project, which was supposed to become a «world-class cryptocurrency exchange» — then Diem was «not approved» by regulators, so Meta launched the Novi pilot crypto project. However, in early July this year, Meta representatives announced the closure of Novi. Starting July 21, users will lose the ability to add money to their Novi wallet accounts. The Novi WhatsApp account and the Novi smartphone app will also become unavailable.