Media from time to time get information about what Facebook is doing with the blockchain. It is certain that the social giant has its own team of experts on this topic. However, it is not known exactly what these specialists are working on. Now I guess he was talking himself … Mark Zuckerberg.
The CEO and creator of “Facebook” during an interview with Professor Harvard Jonathan Zittrain said that his company could use the block network in the data authorization process.
Authorization of data … or what?
Sounds quite complicated? Zuckerberg is already in a hurry to explain how this blockchain-based tool would work. He described it himself in the following way:
“Basically, you take information, store it in a decentralized system and have the option of logging in to places without going through the intermediary.”
For people who have a lot of geek (even at work) it sounds like a gateway to paradise. Such a decentralized system can also – according to Zuckerberg – provide the user with much greater control over his data. There are also disadvantages. Facebook CEO notes that this may increase the number of frauds, and the fight against them, in such a system, would be much more difficult than is currently the case with centralized solutions. Is this what are working on blockchain Zuckerberg experts? He himself admitted that he was more interested in offering encryption in instant messengers, eg in WhatsAppie. The use of blockchain on this plot may increase factors such as privacy and security. The latter is its priority because:
“People rightly expect us [Facebook] to do anything to stop terrorists from recruiting people or exploiting [sexual] children. ”
Facebook and cryptocurrencies
In terms of cryptocurrencies, all Facebook remains skeptical. It even makes it difficult for its portal to include paid ads for companies in this market. It is still not known whether this Goliath among social media sites is working on its own e-currency. Emission of this type of coin would be a revolution for the market. For now, however, nothing indicates it. Probably the company will be happy only to use other blockchain favors.