Facebook Urges Coinbase Board Member To Lead Blockchain Initiative
10 May, 2018, 00:25 | Author: Chad Warren
After a prolonged period, Facebook underwent one of the biggest executive reshuffles in its history. Some of the long term Facebook executives have been given new responsibilities, including an effort to tackle the challenges from blockchain technology.
Facebook head of Messenger is quitting his role to look into how Facebook Inc can leverage Blockchain tech.
Marcus is an interesting choice to lead Facebook'sblockchain charge.
At the time, CEO Brian Armstrong praised Marcus' "knowledge of both the payments and mobile space", but Facebook's controversial hardline stance on cryptocurrency suggests a pivot to any features involving payments on the platform is for the meantime unlikely.
Facebook is the latest super-sized corporate player to enter blockchain, following Google and JPMorgan Chase. This means Mosseri is replacing Kevin Weil, who is now part of the blockchain team.
Likely, the social networking giant would not be interested in building its own cryptocurrency, rather using the technology for other purposes such as encrypted data storage. "After four fantastic years leading Messenger, I'm going to setup a small group to explore how to best leverage Blockchain for Facebook", Marcus said in his tweet.
Reuters saidStan Chudnovsky, who has been Messenger's product chief, will succeed Marcus as head of the service.
"We may also be notified of such incidents or activity via the media or other third parties", Facebook said.
The shakeup appeared to consolidate power at the sprawling internet company, although it included no firings or outside hires and did not change the role of either Zuckerberg or Chief Operating Officer Sheryl Sandberg.
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