Facebook and blockchain, sounds fictitious but may be real one day. Facebook is the biggest social media platform today, but centralized. The first four words of Facebook's mission have always been "give people the power", now it may be the time when it turns into a reality.
Mark Zuckerberg, CEO, Facebook indicates the possibility of Facebook and blockchain coming together in his mission statement for 2018. In the post he said,
"One of the most interesting questions in technology right now is about centralization vs decentralization. Many people now believe technology only centralizes power rather than decentralizes it. 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. But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services."
Zuckerberg has been taking personal challenges to learn something new every year since 2009 when the economy was in a deep recession and Facebook was not yet profitable. He visited every US state, ran 365 miles, built an AI for his home, read 25 books, and learned Mandarin. For 2018 he says, "The world feels anxious and divided, and Facebook has a lot of work to do -- whether it's protecting our community from abuse and hate, defending against interference by nation states, or making sure that time spent on Facebook is time well spent. My personal challenge for 2018 is to focus on fixing these important issues. This will be a serious year of self-improvement and I'm looking forward to learning from working to fix our issues together."
David Marcus, Head of Messenger at Facebook has recently joined Coinbase's Board as announced by Brian Armstrong, CEO at Coinbase. Also, Peter Thiel, the early investor of Facebook has been revealed to be heavily invested in Bitcoin. Giants like Google, Apple, Amazon and Facebook understand Computer Science better. They have consistently attracted the best engineering talent and researchers from the top universities in the world. If they are talking about accepting blockchain in their products and services, I hope, rest of the world should also start paying attention it deserves. It shouldn't be viewed as just cryptocurrency - an investment with good return but the real usecase of the technology should also be contemplated.
It would be interesting to watch when and how Facebook will adopt blockchain technology. Will they use Bitcoin, Ethereum, Ripple or any other existing blockchain or will they create their own blockchain? Will they join the cryptocurrency exchange with a new FB cryptocurrency or would like to continue with traditional stock exchange only? Many more questions, looking forward to be answered.
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