Facebook Explores The Blockchain Technology

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Last January Facebook CEO Mark Zuckerberg said that he will be looking into cryptocurrencies to see how they could empower the individuals. Shortly after, Facebook introduced a ban on cryptocurrency and initial coin offering (ICO) ads.

Now, in yet another turn of events, it appears that the social media giant has set up a Blockchain Team.

According to David Marcus, the head of Facebook’s Messenger app, Facebook is looking into possible applications of Blockchain technology.

“I’m setting up a small group to explore how to best leverage blockchain across Facebook, starting from scratch,” – Marcus explained in a post published on his personal page.

Facebook didn’t yet reveal how interested it is in the Blockchain technology and its application.

The Winds Of Change

The news come soon after WhatsApp, Messenger and Facebook’s core app all got new leaders. The reorganisation was the biggest in Facebook’s 15-year history.

The changes are supposed to improve user privacy and seem to follow the backlash from the U.S. presidential election and the Cambridge Analytica scandal.

Zuckerberg previously mentioned that the decentralised systems could help with shifting power from centralised systems back into the hands of individuals. If we couple it with him discussing the need to take more responsibility for Facebook’s impact on the world – we may have something really interesting to look forward to.

 

Do you think that Facebook could benefit from the Blockchain technology? Let us know in the comments below!

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