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Facebook to steam up in Blockchain?
December 12, 2018 by Paul de Havilland
Facebook seems destined to expand its nascent blockchain activities. At least, that's how you look at the social media giant's career site.
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Facebook Blockchain team set to expand
Facebook already has a blockchain division of about 30 people and directed by the former head of Messenger, David Marcus. His career site is currently trying to recruit a Brand and Global Brand Development Lead Manager for his internal blockchain team.
The works would seem to suggest a shift from the technician to marketing. The company's career site states that "the ultimate goal is to help billions of people" using the blockchain, indicating a possible move in the blockchain market.
What is The Catch?
With a notorious reputation for data breaches, the sale of user privacy to advertisers, and help in spreading Russian propaganda, it is not clear exactly what Facebook blockchain wing would have been created to achieve.
It would be hard to believe that the company can make use of the users of a nearly complete privacy option, given that its revenue derives from the exact opposite. However, if it did, it would probably be necessary to blockchain. The company line on privacy is:
"[I]It is not false to suggest that we have not worried about privacy or not. The facts tell a different story. "
A shameless falsehood, if ever there was one. The giant makes billions of user data accessible and on sale to advertisers, and shareholders expect it to continue to make money.
Not a stellar beginning
If Facebook is working on a blockchain product almost ready for the market, perhaps even in a native currency, it will not be with Stellar. The company strongly denied the rumors of August that it had met Stellar to discuss a cooperation agreement.
If Facebook has to develop a native currency, it will be authentically native, potentially redeemable for little more than products purchased on the platform or on Facebook ads. Who knows? For the social network careers website:
"We are exploring many areas of interest on all aspects of blockchain technology, our ultimate goal is to help billions of people who have access to things they do not have now – they could be things like fair financial services, they could be new ways to save , could be new ways to share information ".
The sophisticated art of making statements without saying anything seems to be alive and well in the land of Zuckerberg. Stay tuned.
Do you say yours? Some hypotheses on what could be the Facebook blockchain plans?
Images via Pixabay
