Facebook Is Pivoting To The Blockchain
Marcus has been in charge of Facebook’s messaging application since 2014 and has driven it from a new product to the most popular downloaded app with more than 1 billion people utilizing it consistently. Before joining Facebook, Marcus was the leader of PayPal. He has been a vocal supporter of blockchain technology and cryptocurrencies, and this has seen him delegated to the board of Coinbase, the well-known crypto trade.
BLOCKCHAIN FOR DATA PROTECTION
Confirming the declaration through his Facebook page, Marcus portrayed his new role as a test he was very anxious to set out on. He will be joined by James Everingham, the VP of engineering at Instagram, and Kevin Weil, Instagram’s VP of product.
The news comes after Facebook was shaken by a data breach scandal including British firm Cambridge Analytica. While Facebook still can’t seem to confirm precisely how it intends to apply blockchain tech, better data security might be among its most important priorities. Prior this year, Facebook CEO Mark Zuckerberg intended to find out about decentralization, encryption, and cryptocurrencies. This got the crypto community energized, just for Facebook to turn and boycott all crypto-related advertisements from their platform toward the ending of January, a move whose ripple effect saw Google and Twitter take action too. The three companies joined constitute close to half of the digital advertising space.
Marcus will be replaced at Messenger by Stan Chudnovsky, the previous head of product at Messenger, in what is Facebook’s greatest reshuffle. The big social media has been redesigned into three fundamental divisions: these include WhatsApp and Instagram, the new platform which will explore rising fields, for example, VR and blockchain, and the central products services which will surround all the various functions, for example, security and development. Marcus will report to Mike Schroepfer, Facebook’s CTO.
The declaration comes less than a week after software giant Oracle reported that it would debut its blockchain-as-a-service offering this month. The platform will start to help decentralized applications in June. The Redwood City, California-based company has been working with Banco de Chile on a Hyperledger-based solution for the bank, and also with the Nigerian government. In a week loaded with positive corporate declarations in regards to blockchain technology, Microsoft’s cloud computing platform, Azure reported the official release of its blockchain application creation service, Azure Blockchain Workbench, which will enable developers to create blockchain applications.
