Worried of countless accusations of consumer data violations, the crypto-curious Facebook has signaled that it can turn to blockchain technology for some tasks.
In a video discussion, Facebook CEO Mark Zuckerberg told Harvard law professor Jonathan Zitrain that the social media giant could integrate blockchain technology into data entry and data exchange systems on the platform.
This will allow billions of users to control applications that have access to their data, profiles, and pages. In addition, technology will enable users to share the amount of data they share. Facebook Is Interested in Using Blockchain to Launch Intermediaries – Apple Is Listening?
According to Zuckerberg, block technology can also be used to help Facebook get rid of the intermediaries. This will allow developers to create applications and features without having to worry about losing access if they violate third-party policy:
"For developers, one thing that really worries about working with our system or Google's system for doing so, or having to deliver services through Apple's App Store, is that you do not want to have an intermediary between the service people who use your service and you. When someone can just say "hey", we as a developer have to follow your rules and if we do not, then you can disable access to the people we serve. This is a difficult and disturbing position to be. "
Zuckerberg seemed to hint at the woes of social media at the hands of tech giant Apple. Recently, the iPhone maker has revoked Facebook's corporate certification by effectively banning the app for social media giant research from the App Store.
When making the decision, Apple claims that Facebook has violated one of its policies. According to Apple, the app should only be used internally and is not intended for general users. However, the iPhone manufacturer later recovers its corporate Facebook certificate.
Taking note of the potential of decentralized systems to "empower individuals," Zuckerberg pointed out that reporting would be much more difficult:
such as Facebook or Google, not a series of third-party applications. You would also have more cases of abuse, and recourse to them would be much more difficult.
Although Zuckerberg has not explicitly said that the social media giant will integrate blockchain technology into its platform, Facebook currently has the necessary talent for it
Facebook already has enough team of crypt-talent
Earlier this month the social media were more or less acquainted with Chainspace, an intelligent developer of contracts. The purchase allowed Facebook to swallow most of the start-up company's employees into its block division, which makes it "acquiring attributes".
Breaking: Facebook Crypto Project Has Acquired Blockchain Startup Specializing in Intelligent Contracts https://t.co/F4sEC7fyFP
̵1; CCN.com (@CryptoCoinsNews) 4 February 2019
Facebook is also reported to be watching other acquisitions in the Crypt Space. As already reported by CCN, the company has met with start-start startup companies such as Basis, Keybase and Algorand.
Prior to the acquisition of Chainspace, the Facebook block is estimated at around 40 employees. The division is headed by David Marcus, who is a former board member of the American Coinbase crypt.
Mark Zuckerberg Image by Shutterstock