Home arrow Article arrow Article Detail

Ramping Up Blockchain Division At Facebook 

Profile Image

Mujumdar Shivangi

CBW -External Analyst

INDIA

Jan, 12 2021

Jan, 12 2021

likes 0 | comments 0

Article Image

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. 


likes 0 Likes | comments 0 Comments

Profile Image

Mujumdar Shivangi

CBW - External Analyst

INDIA

Comments
WHAT IS AN EXTERNAL ANALYST
banner
Article
Two-day Bitcoin dive shakes confidence in cryptocurrency boom

The white-knuckle Bitcoin drive took one more twist Monday as a two-day tumble in the digital currency added to concern that the separating cryptocurrency boom may run out of steam...;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.