Bitcoin, Crypto currency, Blockchain

Why is Facebook now with Blockchain?

Mark Zuckerberg’s step in the direction of Blockchain technology may only serve to confuse the Public. Or not.

Facebook recently announced that David Marcus, the former head of the messenger, the Facebook research team will lead on the topic of Blockchain. Currently, it still appears difficult to assess how this step should be assessed. It is just a PR-Trick?

Cambridge Analytica scandal developed into a PR nightmare for Facebook and the failure of the company in terms of user privacy. The company could therefore tolerate quite a bit of positive reporting.

And that is exactly what has given this unexpected movement in the direction of the Blockchain technology. Now people are trying to figure out what might want to the hell is Facebook with block chains.

In spite of all the speculation and confusion, however, was the most crypto experts clear that Facebook would sooner or later explore the new technology.

Why?

Because every large company in the technology industry is busy now with Blockchain technology. Microsoft, Google, Amazon and even Apple have all already Blockchain projects, therefore, Facebook cannot afford to be sheer, to give this Innovation, no attention.

About a year ago, Facebook Morgan Beller has brought to research everything on this topic, without offering him much support. Either Mr Beller found something interesting, or it seemed to be a good time to intensify the research in this direction, or, as many market observers suspect, it was only a good time to bring positive news in connection with Facebook.

However, it is still a little worrying that Facebook’s modus operandi. A Blockchain is a permanent Online public Ledger (Online Ledger), which processes transactions based on a variety of individual computers instead of on a Central Mainframe.

The technology was invented by the mythical Bitcoin Creator Satoshi Nakamoto. Nakamoto, which is not his real Name, had a good reason for his work on Bitcoin: He wanted to remove the need for Central banks and credit card companies.

The financial aspects are, however, only the beginning of this innovative technology. Tron, a crypto-currency is run by Jack Ma’s former apprentice Justin Sun, wants to use the technology for the decentralization of the Internet.

In some ways, this removes the need for Google and Facebook and it allows users to use the Internet without middle men.

This model would allow for resistance, censorship, enormously more difficult, and the users control over the ways in which your personal information are used and disseminated. In this context, each user’s data would be the Equivalent of a crypto-Tokens.

Brittany Kaiser, the former Director of Cambridge Analytica, came out last April to IOVO, in a step that defines the irony of the corporate world. IOVO is a other Blockchain-organization to enable Social Media users choose what to share and with whom.

What, you haven’t had enough irony for today? Maybe you are interested in that as well as anyone who had something to do with the Facebook / Cambridge Analytica scandal, prior to the one or other way with crypto-currencies has worked.

Social networks based on the Blockchain are already available. Steemit is a good example of this. It users are rewarded with crypto-Tokens, instead of Likes. Admittedly, it is a crypto-currency, the market is almost completely irrelevant. The concept is shown, however, already well.

It is doubtful that Facebook would accept some kind of decentralisation. That would mean losing control over the data of its users, or to lose, just their monopoly Position.

Because that would be finally a commercial-suicide in a similar way. It is also possible that the company merely wants to explore the technology, so that in the event of a serious Blockchain-based competitors, the company knows what it has to fight.

Motive: Unknown

It’s hard to take Facebook’s interest in the Blockchain technology seriously, except for one thing: you give this Job to some of its higher-ranking executives. David Marcus was so far for all the properties of the messenger responsible.

Kevin and James Everingham, which are also in the new Blockchain Team, were people with important leadership positions on Instagram. Why should Zuckerberg bring three of their biggest Stars to work on unimportant things?

On the other hand, the office could be policy the reason for the personnel change. May Messenger and Instagram are developed simply so that the three executives are looking for new challenges.

To give you a new, more challenging toy the way, Facebook ensures that you will stay, instead of looking elsewhere for more Stimulation.

Marcus is known to be a Blockchain-Fan. He was President of Paypal and a payment is a specialist. He owns Bitcoin for the past six years and praises the potential of the emerging technology often.

In addition, he recently joined the Board of Directors of Coinbase beige, which as the world’s most famous crypto-currency exchange.

Marcus has excluded crypto-currency payments from the payment option of Facebook and Messenger (yet), since crypto currencies are still too slow and expensive. But maybe it is now his task to take a closer look at the possible scenarios. Anyway, he loves this stuff.

Who can really know if something is coming out when? Maybe the FaceCoin should be paid to rumours, nevertheless, not a lot of Faith. Facebook has the advertising of crypto-currencies very energetically forbidden and many governments of the world’s problems. A new set of rules is the last thing it needs. Finally, is it so that some things can alone be through PR is not solved.

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