Social media giant fb is launching a team committed to exploring blockchain era. The initiative can be spearheaded David Marcus, who has served because the organisation's vice chairman for its Messenger app department. Marcus is a former president of PayPal.
"After nearly 4 unbelievably profitable years leading Messenger, i've determined it became time for me to take on a brand new challenge. i am putting in place a small group to explore the way to fine leverage blockchain throughout facebook, beginning from scratch," Marcus wrote in a post on his facebook web page on Tuesday.
A file from Recode indicated that whilst the team could have fewer than a dozen people, it'll characteristic engineering and product body of workers from fb's Instagram unit as well. even though it remains unknown at this degree the exact work to be achieved by way of the brand new team, the news marks a high-quality pass through the social media massive.
It additionally follows a observation made by means of the ex-PayPal president - who joined the board of directors of crypto alternate Coinbase ultimate year - that facebook Messenger is open to the concept of embracing cryptocurrency payments once the blockchain community can "restoration all of the troubles." The formation of fb's new blockchain crew follows a platform-wide ban on cryptocurrency-related commercials, with the social media organisation cciting worries that users had been exposed to fraudulent ICOs and cryptocurrency schemes.