Facebook Sets Up A Blockchain Group Led By Coinbase Board Member

Facebook Sets Up A Blockchain Group Led By Coinbase Board Member

The head of Facebook’s Messenger David Marcus, who had been leading the development of the app for four years, announced he is quitting the position. Now he intends to take on a new challenge – examine blockchain in order to implement it on Facebook.

Marcus Wants To Keep Changing The World. Now With The Blockchain

On Tuesday 8 May Marcus wrote a Facebook post, officially disclosing his arrangement concerning the implementation of the blockchain and getting the best out of it on one of the most popular social networking sites.

Marcus revealed that within the past years that he dedicated to the leverage of Messenger, his team and he managed to increase the number of the app’s users by more than 1 billion people. It is noteworthy that before the advent of Marcus in the team there were less than 300 million people using Messenger.

Now he thinks of changing Facebook with the help of the blockchain.

"I'm setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch," said Marcus.

Ties With The Coinbase

Another striking idea is that Marcus can indeed succeed in the implementation of the blockchain on Facebook as he is not a layman when it comes to distributed ledger technologies and cyber-assets.

The thing is that Marcus is also a member of the board of one of the most significant international US-headquartered digital money exchanges Coinbase. Perhaps, we might see a collaboration of the social media giant Facebook and the titan in crypto-swapping with time.

Marcus himself joined the board of Coinbase almost half a year ago – in December 2017, a few days before bitcoin hit the all-time record of $20,000.

The news concerning Marcus’ decision to quit Messenger came as Facebook set off its largest executive shakeup in the span of 15 years. In the frames of the shakeup, Facebook is going to reorganize different departments as well as add a new blockchain effort. Also, the company will address privacy concerns which recently have shaken up the Web.

Facebook & Cryptos

It can’t be said that this announcement is new as earlier in January the head of Facebook Mark Zuckerberg said the company would start considering possibilities of using cryptos as well as how “to best use them in our services."

As Zuckerberg said then, the realm of technology was focused on the issues of decentralization. Facebook CEO stated that people started losing faith in this phenomenon as states’ authorities were using technologies to keep an eye on their citizens. However, in his opinion, there were some new trends to fight centralization:

“There are important counter-trends to this – like encryption and cryptocurrency – that take power from centralized systems and put it back into people's hands.”

Decentralization, which is demonstrated in the functioning of cryptocurrencies, might help to give the dominion back to people, believes Zuckerberg. And even though it is more robust to control it, he was very enthusiastic by studying such technologies in-depth.

Image Source: en.wikipedia.org/CC BY-SA 4.0