Facebook to begin exploring blockchain

What Is End-to-End Encryption And Why Is Facebook Using It

What Is End-to-End Encryption And Why Is Facebook Using It

In the wake of the Cambridge Analytica scandal, Facebook has announced the biggest shakeup of executive roles in its 15 year history.

Facebook isn't the only major company to explore blockchain.

Meanwhile, WhatsApp co-founder Jan Koum announced his departure from Facebook late last month amid rumors of his alleged disagreement with Mark Zuckerberg's company over issues concerning user data privacy and encryption.

The new hierarchy at Facebook is split up into three overarching groups: the app family, new platforms and infrastructure, and central product services. He is the company's VP of growth. All the app heads will be reporting to him from now onwards. This is a significant point, because it helps to conceptualize where the interest of this head executive may lead the committee to as they explore Facebook applications of blockchain technology. Chris has been with Facebook since 2011. A Facebook spokesperson listed some of them in an email to Quartz, including Fidji Simo who runs video for the Facebook app, and Julie Zhuo, who is responsible for product on the app.

When Facebook acquired Instagram in 2012 and WhatsApp in 2014, the social media giant promised the leaders of those companies a degree of autonomy. Furthermore, the blockchain team will come under a new division, known as "New platforms and infra", which will be administered by CTO Mike Schroepfer. Andrew Bosworth is leading AR and VR. Specifically, he oversaw the decision to split Facebook Messenger away from the main Facebook app, a decision that yielded a clear increase to downloads. For one, he's on the board of cryptocurrency exchange Coinbase and is a self-described "cryptogeek".

"After almost four unbelievably rewarding years leading Messenger, I have decided it was time for me to take on a new challenge".

A self proclaimed "cryptogeek" with a knack for startups, Marcus's blockchain group could produce Facebook's answer to the cryptocurrency craze and create a new coin for the social network's more than one billion users.

"This reads like Mark putting his people back in charge", a former Facebook executive told the Wall Street Journal. The broad Facebook restructuring has also seen several other high ranking executives assuming different roles at Facebook.

Alex Schultz, who has been with Facebook since 2007, is now the VP of growth marketing and data analytics.

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