David Marcus, the head of Facebook’s messaging app Messenger, announced that the social media site is exploring possible applications for blockchain[1] technology, CNBC reported[2] May 8.
“I'm setting up a small group to explore how to best leverage blockchain across Facebook[3], starting from scratch,” Marcus shared in a post[4] Tuesday afternoon on his personal page.
Marcus has been leading Messenger for almost four years. In December, he joined[5] cryptocurrency exchange Coinbase[6] as a board member. Facebook, however, hasn’t revealed how interested it is in applying blockchain.
The move comes as Facebook implements a broader shake-up of their product team. From now on, the company will operate under three divisions: a “family of apps” group, "central product services" and “new platforma and infra,” Recode reported[7] Tuesday.
In January, Facebook CEO Mark Zuckerberg said[8] he would be looking into digital currencies in order to explore their potential for empowering individuals. He stated that the power of decentralized systems like cryptocurrency[9] could help take power away from the centralized system and place it back in the hands of individuals.
In January of this year, Facebook initiated a blanket ban[10] on ads for cryptocurrencies and initial coin offerings[11] (ICOs). The ban came as a surprise to some, as Facebook founder Mark Zuckerberg had previously expressed[12] interest in cryptocurrencies. Zuckerberg reportedly wanted to study how the decentralized nature of cryptocurrency could empower individuals and “how best to use them in our services.”
