Facebook’s top executives run blockchain research team
Social media giant Facebook is launching a Blockchain research group that will be run by the company’s leading executives.
Mark Zuckerberg’s firm will see a shift in responsibilities at the top.
Execs company’s sub-brands, Instagram and Whatsapp will move closer to central management, according to Recode.
David Marcus, the head of development for Facebook’s messaging app, Messenger, will be leading a new group tasked with researching Blockchain technology.
The new team’s role will be to explore the potential for integrating Blockchain into the social networking firm’s many applications.
In a post on the platform May 8, Marcus reveals:
“I’m setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch.”
Earlier this year, Facebook, led the way for Google and Twitter by banning cryptocurrency-related advertising.
By launching their new Blockchain research team, it appears as though Facebook is conversely late to the party.
Marcus gave little indication as to the direction of the Blockchain research or any possible integrations.
The decision to research the technology, however, comes as Facebook’s data handling scandal continues to unfold.
The way Facebook handles user information could likely be heading for a major overhaul in the coming months.
User data integrity is something is something Blockchain could strengthen, both public and private.
Facebook’s links to Coinbase
The choice to have Marcus take the lead, however, is also noticeable.
CEO Brian Armstrong celebrated Marcus’ “knowledge of both the payments and mobile space” at the time.
Although, Facebook’s dubious tough stance on cryptocurrency implies a pivot to any features including payments on the platform is unlikely for now.
The Blockchain research group will also gain Instagram’s head of product development Kevin Weil as part of the organization’s reshuffle, Facebook confirmed.