Facebook Urges Coinbase Board Member To Lead Blockchain Initiative

10 May, 2018, 00:25 | Author: Chad Warren
  • Unicode bug found to crash iOS Messages app on iPhones and iPads

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.

In January of this year, Facebook CEO and co-founder Mark Zuckerberg had expressed his interest in cryptocurrency and its potential to fix Facebook's "important issues".

The company will appoint David Marcus to head the new blockchain team.

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's blockchain 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.

Marcus is now on Coinbase's board of directors.

Ireland: Facebook to curb foreign ads related to abortion referendum
Facebook said that for the objective of the referendum it would operate as though these tools were in place in Ireland. Ireland bars political contributions from overseas , but the law does not apply to social media advertising.

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 said Stan 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.

Also, Chris Cox, is now in charge of Facebook's core application and smartphone services for Instagram, WhatsApp, and Messenger.

The new internal team or blockchain group will be formed under the "New platforms and infra" division, which will be led by Facebook CTO Mike Schroepfer.

At the start of this year, Facebook announced a ban on initial coin offerings (ICOs) and cryptocurrencies.



What it means to be in Childish Gambino's America
The Hiro Murai-directed music video is shot in a fluid format and references significant moments from the past and recent events. The juxtaposition between lighthearted and disturbing is shocking throughout the video and some viewers may find it distressing.

Even in a Haspel CIA, Reviving Torture Would Be Difficult
Meanwhile, Haspel was on Capitol Hill Monday making the case for herself. By Saturday she had reportedly agreed to continue with the nomination.

Radiant in red, Sonam Kapoor weds Anand Ahuja
Sonam's siblings Rhea and Harshvardhan took to their respective Instagram accounts to express their feelings over her marriage . From Bollywood, megastar Amitabh Bachchan, son Abhishek and daughter Shweta were among the first ones to arrive at the venue.

Early-morning Green text prompts huge game from Durant
Considering the Warriors have won 14 straight postseason games, Cook could see extended minutes if this game gets out of hand. Curry scored 23 points as the Warriors bounced back from defeat on Friday night to beat the New Orleans Pelicans 118-92.

Trump Administration Will Separate Parents From Children at Border
According to the report , families that are detained for illegal crossings have typically been kept together in the past. The draconian new policy is expected to send a flood of deportation cases - and legal challenges - into federal courts.

Cambridge Analytica must hand data to USA citizen, says British regulator
Twitter would stand to benefit more as Snapchat and Instagram are very specific social networks with tailored use-cases. The remaining quarter said that they were using it less recently, had stopped using it or deleted their account.

Palestinian Authorities Urge to Boycott Opening of US Embassy in Jerusalem
Last year's decision by the Trump administration to move the embassy to Jerusalem was harshly criticized by the global community. The global community, including the USA , does not recognise Israel's jurisdiction and ownership of the city.

Taylor Swift invited 2000 foster kids to a private "Reputation" rehearsal
The " Look What You Made Me Do " singer performed for over 2000 foster and adoptive families and threw a pizza party for them, reported People magazine.

Elia Viviani wins Stage 2 as Rohan Dennis takes pink
Italy's Elia Viviani sprinted to victory for a second successive day at the Giro d'Italia as the Big Start in Israel concluded. In 2014, the Giro started in Belfast, but this year's opening weekend in Israel is the first time it's been outside of Europe.

Tax returns show Cynthia Nixon, wife made $1.9 million dollars previous year
The couple netted more than $125,000 in capital gains and were paid almost $33,000 in dividends from investments. Cuomo's tax returns have shown in the past $700,000 in revenue from a book deal with publisher HarperCollins.