Facebook seeks to best leverage blockchain, sets up research group

Facebook seeks to best leverage blockchain, sets up research group

Facebook seeks to best leverage blockchain, sets up research group

David Marcus was the one who decided that spinning Messenger off from Facebook's core app would work in favor of the company.

Mired in a massive data breach controversy, Facebook has reportedly rolled out biggest-ever shuffle at the senior management level since its inception - across platforms, including WhatsApp and Messenger. The next couple of months or years are going to be interesting as we will probably see where the new blockchain division will take Facebook.

The roles of the company's top two leaders - Zuckerberg and Sheryl Sandberg, Facebook's chief operating officer - remain unchanged.

Meanwhile, the CEO of Twitter - Jack Dorsey - is an outspoken bitcoin bull, though the social media platform has yet to add native support for cryptocurrencies (Square, Dorsey's digital payments business, recently added bitcoin trading to one of its apps).

Meanwhile, Chris Daniels, the VP of Facebook's Internet.org group, is taking over WhatsApp. They, along with Instagram's Kevin Systrom, all report to Chris Cox, the company's chief product officer.

In a jolt to Facebook, WhatsApp co-founder and CEO Jan Koum in April chose to move on amid reports that he had a difference of opinion with parent company Facebook over data privacy, encryption and other issues.

Zuckerberg also announced a huge shakeups in the history of Facebook. The entire division is said to be managed by CTO Mike Schroepfer.

In the case of Messenger, David Marcus is moving on to run the new team working on blockchain technology so Stan Chudnovsky, the Head of Product at Messenger, is stepping up to fill in as the Head of Messenger.

The social network is also among online platforms that came under fire for being used to spread misinformation and foment division ahead of the United States presidential election in 2016. They include ads related to abortion, budget, crime, education, energy, environment, foreign policy, government reform, guns, health, immigration, infrastructure, military, poverty, social security, terrorism and values. "I'm setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch", Marcus said in a Facebook post. According to Recode, the team will have less than twelve people, at least at this stage.

Facebook has previously stated that the data of each of its 2.2 billion users has likely been breached at some point.

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