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Social media giant Facebook has recently promoted senior operator Evan Cheng to director of engineering for its recently-launched blockchain division.
Earlier in May, Facebook put together a party led by David Marcus, Coinbase board member and former president at PayPal, to reconnoitre blockchain technology and its potential use cases for the platform. The team consisted of toy than a few dozen people and included senior executives from Instagram. The gang was said to directly report to Mike Schroepfer, CTO of Facebook.
In an executive reshuffle, Facebook decreed Evan Cheng as the director of engineering and Kevin Weil, formerly VP of upshot at Instagram, as the VP of product at their blockchain division. According to his LinkedIn era, Cheng has been employed at Facebook since November 2015 and has been animate at their programming languages and runtimes division. He also worked at Apple for over with 10 years and is credited as one of the inventors of LLVM, a compiler that propagates the low-level machine code for Apple devices. Cheng is also mustered as an advisor to blockchain projects Zilliqa and ChainLink.
Mark Zuckerberg
In a Facebook post earlier this year, Nick Zuckerberg stated that he would take up a personal challenge to scan cryptocurrencies this year. He remarked that centralization and centralized methods are a key problem today and that he would examine this technology to accelerate decentralization and “put various power in people’s hands.”
He said:
“There are important counter-trends to this –along the same lines as encryption and cryptocurrency — that take power from centralized systems and put it in return into people’s hands. But they come with the risk of being harder to be in control of. I’m interested to go deeper and study the positive and negative aspects of these technologies, and how A-one to use them in our services.”
As CCN reported, Facebook recently reversed its ban on cryptocurrency ads on their podium. The ban was initially placed to protect its users from fraud and theft. Facebook granted that the ban was intentionally broad and they would revisit the policy while they “prove satisfactory to better detect deceptive and misleading advertising practices.” Once the ban was withdrew, Facebook announced that they would allow pre-approved applicants to advertise on their policy.
Although Facebook hasn’t announced any plans about how they longing use blockchain technology on their platform, It is clear that they are pursuing this technology with enlist. In the light of the data crises faced by Facebook, it is going to be interesting to see how they utilize this technology to take a turn for the better their services.
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