Facebook Attempts the Use of Blockchain in their System
Just this January, Facebook CEO Mark Zuckerberg wrote that he wants to explore decentralizing technologies such as encryption and cryptocurrency to know more on how Facebook may use them in their services
A new internal team committed to blockchain technology will be released by Facebook, and David Marcus of Messenger will run it. Blockchain is a way to keep track of the digital transactions which helps to conclude who can be trusted online
Facebook could utilize blockchain technology in wide range of areas－from advertising infrastructures to relieving person-to-person e-commerce, up to securing users’ identities since nowadays scams are largely spread online. There are a lot of Facebook users and it is important to increase the effort in forming an industry-spanning partnerships through blockchain.
The use of blockchain might not yet clear, but the opportunities like free of fees in universal payments, data exchange, and a new form of online connection are seen clearly by Facebook.
Though blockchain empowers cryptocurrency, it doesn’t necessarily mean that it is Facebook’s move into cryptomoney. Rather, the CEO sees it as a tool to fulfill their mission to link the world, and the emerge blockchain technology could enable Facebook in establishing something such as international currency exchange system only them have which will soon boost cross-border trading.
Not everyone is convinced that the future is blockchain technology, but the potential of it is clear, which is why Facebook is investigating and analyzing more of its details. Who doubts the capability of the most used social platform, anyway? It’s another milestone for Facebook if ever it comes out in the mainstream.
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