Facebook news:The Cards Are On The Table
Facebook through the big door enters the crypto world.
From ban to approval.
As Mark is a very intuitive and intiligens man who quite understands where the development of technology is going, he took the only possible move.
Recently he says:"There are important counter-trends to this –like encryption and cryptocurrency — that take power from centralized systems and put it back into people’s hands. But they come with the risk of being harder to control.
I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.”
Shifting Facebook into blockchain will bring new credibility to the crypto industry.
Although Facebook does not necessarily need to create its own cryptographic currency, the company could find new opportunities for blockchain technology, such as encrypted data storage.
The team works behind the scene for a while.
Evan Cheng as Director of Engineering and Kevin Weil, a former VP of Instagram products.
According to his LinkedIn page, Cheng has been employed on Facebook since November 2015 and is working on their programming languages and sharing runtimes.
He has also worked in Apple for more than 10 years and is credited as one of the inventors of LLVM, a compiler that generates a low-level machine for Apple devices.
Cheng is also listed as Zillyqa and ChainLink Project Advisor.
There is also David Marcus, Coinbase Board member and former PayPal president.
The team allegedly has dozens of people.
Conclusion
Anyway, this is a great news.
Many eyes look at Facebook.
When they brought a ban on advertising, they confused people and put insecurity.
This was destined to happen, as crypto and blockchain are no joke but a revolution that will be impacting billions in coming years, whether today's giants accept this or not. I think Facebook had the flash of Yahoo, Nokia and many others those were unwilling to change with time. They most probably have figured it out that if they are not in blockchain they are out from the business.
That's right.
Next is google!
100 % correct
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