• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Blockchain

Facebook Taps Blockchain Technology to Steer the Company in a New Direction

newsbtc by newsbtc
3 years ago
in Blockchain
Reading Time: 3min read
facebook
Advertisement
Listen to Article

Facebook has come under fire from many different angles lately. The company is in the midst of some big controversies, but there is still time to turn things around. Some internal changes will be forthcoming and a blockchain division will be added to the overall company structure. For the company, this is one of the biggest management shakeups to date, although it may not be the last.

Major Changes for Facebook

Some big developments are taking place behind the scenes of Facebook. The social network needs to consolidate its power before things get out of hand even further. No one will be fired, but some higher-ups will be given more responsibility across the company’s different ventures. Facebook CPO Chris Cox will now manage Instagram, Messenger, and WhatsApp as well.

That latter part is a surprising change. The popular messaging app has done its own thing since 2014. With the two co-founders recently leaving the company, changes are more than warranted at this time. Moving employees around within the parent company can take all of these services in a completely new direction moving forward. So far, it remains unclear if other reasons are at play regarding these developments.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Perhaps the biggest announcement comes in the form of how Facebook is launching a blockchain division. A lot of blockchain enthusiasts are convinced this technology will make a positive impact on social media in general. This new venture will be spearheaded by David Marcus, the former head of Messenger. Incorporating blockchain into Facebook and other services will pose some unique challenges along the way.

Incorporating Blockchain Technology

There is a lot of speculation as to how the company will use blockchain. It may eventually lead to cryptocurrency support as well, although such plans have not been officially announced. Information is scarce to come by right now, although Marcus confirmed the company wills tart from scratch. This seems to indicate there will be an open-minded approach to this technology and not necessarily a clear plan of action as of yet.

There are many things Facebook can do with blockchain technology. The company won’t necessarily give up its centralized position on the market, though. Decentralization is not necessarily an option Facebook  – the parent company – needs to pursue at this stage. A distributed ledger can have both private and public properties at all times. As such, there are many different options for Facebook to explore, both for the social network as well as its other ventures.

This is a big development for the world of blockchain as a whole. Facebook is tapping into this new and innovative technology as a way to redeem itself in the eyes of the public. After the recent Cambridge Analytica scandal, some positive news is more than welcome for the company. It is now up to the higher-ups to properly use the options at their disposal. How they will do so, remains to be determined at this stage.

 

Image from Shutterstock
Tags: blockchainfacebooksocial media
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

ethereum gas fees uniswap uni

Uniswap UNI Token FOMO Brings Ethereum Fees To Nearly $1M An Hour

4 months ago
bitcoin btcusd

How BTC Held On Exchanges Matches Bitcoin’s Deadliest Drop Yet

4 months ago
bitcoin whale

“Intense” Bitcoin Whale Exchange Flow Could Be Behind Weekend Crash

4 months ago
ethereum defi crypto altcoin ethusd

DeFi Effect: Ethereum Network Grows 25% In 2020, Most Addresses Profitable

5 months ago
Blockchain Battle With China Ensues With New US Congress Bill Proposal

Blockchain Battle With China Ensues With New US Congress Bill Proposal

5 months ago
bitcoin justice crime irs us goverment

Justice Department AG Claims US Gov, IRS Has Tools To Track Bitcoin Users

5 months ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

LABS Group Announced Strategic Partnership with Centifuge to Provide DeFi Collateralized Property Backed Lending

January 22, 2021

Jump-starting Crypto Adoption: Aurix IEO Scheduled for January 21st on ExMarkets!

January 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.