The social media giant Facebook is looking to expand its team operating in Blockchain Technologies. The company aims to hire different experts ranging from business products and business managers to software engineers.
In a public interview with Harvard Law Professor, Jonathan Zittrain, Zuckerberg said he is potentially interested in adding Facebook login on blockchain technology. Explaining Zittrain, Zuckerberg said,
I’m thinking about going back to decentralised or Blockchain authentication. Although I haven’t figured out a way to make this work out but this is around authentication and basically granting access to your information and to different services.
Basically, the proposed system would replace Facebook Connect with “something that’s fully distributed.” This system lets individuals pick and choose which apps to allow access to as well as which apps to limit the amount of data share.
It also reports that Facebook is willing to develop its own cryptocurrency. As Facebook has over 2.3 billion users globally, its plan to launch cryptocurrency will also allow them to make payments. They can do so using virtual currency like Bitcoin. Explaining which Facebook said,
Like many other companies, Facebook is exploring ways to leverage the power of Blockchain technology.
Mark Zuckerberg also said,
You basically take your information, you store it on some decentralised system and you have the choice of whether to log in different places and you’re not going through an intermediary. There’s a lot of things that I think would be quite attractive about that.
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