Ramping Up Blockchain Division At Facebook
CBW -External Analyst
Jan, 12 2021
Tech giants are exploring blockchain, and Facebook won't be left behind.
Powering up the blockchain division
Last May, Facebook Messenger head David Marcus had announced leaving the post to assist the corporate explore the uses of blockchain technology.
"I'm fixing a little group to explore the way to best leverage Blockchain across Facebook, ranging from scratch," Marcus announced via a post on his Facebook page. Blockchain happens to be the underpinning technology behind cryptocurrencies delivered to fame by Bitcoin.
Joining Marcus now's another Facebook senior engineer
Getting serious about blockchain
Now that one among its senior engineers has transferred to the blockchain division, the social networking giant appears more serious than ever. Previously, Cheng was referred to as the head of the Programming Languages & Runtimes for Facebook. Cheng's diary showed him tweeting about blockchain. Additionally, he previously served as a divisor to many blockchain startups/projects like ChainLink and Zilliga. consistent with an equivalent source, putting Cheng within the blockchain division means the project is vital
As of the primary quarter of 2018, Facebook has over 2 billion monthly active users worldwide, which makes it a possible target of security threats for the vast amount of valuable information it currently holds. In recent news, the corporate has been involved in several data breach scandals during which data from 87 million Facebook users were gathered and utilized in political campaigns. Despite this, the number of monthly users still increased by 13 percent compared with 2017's half-moon. Seeing the many impacts of social media in today's society, it's time that Facebook and similar social networking sites find ways to guard their users against unscrupulous manipulation.
Facebook's move to explore blockchain could also be one of the steps to deal with these problems. With blockchain's decentralized and immutable design, it bodes well for streamlining processes and strengthening security for data handling across many industries.
CBW - External Analyst
False hours ago