Facebook and Blockchain Technology?

Facebook is the newest company to show interest in blockchain tech

0
208

The social media giant Facebook has announced that it is currently forming an internal team to focus exclusively on blockchain technology

David Marcus, the man previously in charge of running the Facebook standalone messaging application, Facebook Messenger, is now the man in charge of leading the company’s blockchain team. In his place, Stan Chudnovsky will be taking over Messenger.

The company’s blockchain team is launching with just a small group of fewer than a dozen people. Included in this small group are James Everingham and Kevil Weil. Both were big executives (Vice President of Engineering and Vice President of Product, respectively) at Instagram and have moved over to Facebook to join the blockchain team.

Marcus is no stranger to blockchain tech as Marcus seems to have a personal interest on cryptocurrencies evidenced by his joining of the board of directors of cryptocurrency exchange Coinbase last December.

What can we expect from this blockchain team?

Nothing is known for sure but it is speculated that this new blockchain team may develop a sort of decentralized Facebook product.

They could also take advantage of its billions of users and create a wallet or exchange. Though this may seem unlikely given the regulatory uncertainty behind the concept and given the extra eyes on Facebook right now.

What else do you think can come out of this Facebook and Blockchain marriage?

LEAVE A REPLY

Please enter your comment!
Please enter your name here