Facebook has begun exploring the benefits of blockchain technology. The new team has a specific task to find ways to integrate a distributed registry within a social network.
The team that plans to develop decentralized products will be led by Coinbase board member David Marcus, who until recently ran the Messenger app.
According to some media reports, the group consists of about ten people, it includes engineers and product development specialists from the Instagram division. Details about the use of blockchain in the social network have not yet been specified. However, according to early statements, the technology is of interest to the company due to its ability to create valuable, global peer-to-peer networks. It can become a decentralizing force that will build a new system of relationships within the community.
David Marcus is an ardent supporter of Bitcoin. He previously served as president of PayPal, but has been running Messenger for almost 4 years.
At the beginning of work on Messenger, it was David who came up with the idea to spin it off as a separate application that people could install on their smartphones for messaging. He oversaw the messenger's transition to introducing bots for customer service, shopping, and later advertising.
The social network is now undergoing the largest reorganization in its history. Now Messenger, Instagram, WhatsApp and Facebook are part of the so-called “Family of Apps”. All divisions are led by Chief Product Officer Chris Cox. The Messenger team will be led by CEO Stan Chudnovsky. According to Recode, Facebook also plans to implement changes to its structure - it will consist of three departments: Applications, Core Products and New Platform and Infrastructure.
Earlier, the founder of the social network, Mark Zuckerberg, said that distributed registry technologies are a challenge for him. Facebook CEO noted in January that he sees digital currencies as a tool that can empower everyday people. In his opinion, decentralized systems can undermine the dominant position of centralizing authorities. And in the same January Facebook completely banned the placement of advertisements about cryptocurrencies and initial coin offerings (ICOs). The decision to ban came as a surprise to many given Zuckerberg's previous statements.
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