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Facebook seeks to best leverage blockchain, sets up research group

09 May 2018

It's worth noting that this effort hasn't exactly come out of the blue, as Facebook CEO Mark Zuckerberg said at the beginning of January that he was keen on looking into how decentralized technologies could be used in the company's services.

The former head of Messenger, David Marcus, will now lead the company's new blockchain initiative.

As part of the reshuffle, co-founder Mark Zuckerberg remained chief of Facebook, with chief operating officer Sheryl Sandberg his second-in-command.

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Chris Daniels of Facebook's will be taking over WhatsApp after CEO Jan Koum announced he was leaving last week.

"Adam Mosseri, the Facebook product executive who runs News Feed, is headed over to Instagram to become the company's new VP of product", the report claimed. In March, the New York Times and the Observer of London reported that a political consulting firm, Cambridge Analytica, had also misused the information of millions of Facebook users. Under him, Andrew "Boz" Bosworth will be in charge of augmented and virtual reality, a key area given Facebook's ownership of Oculus.

Facebook are of course one of the major tech companies of the world.

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Marcus will also report to "Schroep", while engineering exec Jay Parikh will focus on privacy products. 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. For one, he's on the board of cryptocurrency exchange Coinbase and is a self-described "cryptogeek".

Facebook is jumping on the cryptocurrency bandwagon with a new team created to explore possible uses of blockchain technology.

"I'm setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch", he wrote in a post on the platform May 8. Naomi Gleit, who has been with Facebook since 2005, will hold the reins to community growth and integrity. This shuffle in their product team means now the company will be divided into three groups i.e. new platforms and infrastructure, a family of apps and central product services.

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Whether these changes will result in a dramatic shift in Facebook's policies will remain to be seen, as will any improvements the new structure brings to internal communication.

Facebook seeks to best leverage blockchain, sets up research group