Facebook is building a new team that will focus on blockchain

Facebook biggest executive shakeup in its 15 year

Facebook is building a new team that will focus on blockchain

The Head of the Messenger at Facebook, David Marcus announced this a few hours ago explaining how the team will go about it.

Other shakeups include more responsibility for chief product officer Chris Cox, who will now also oversee Instagram, Messenger and WhatsApp. The reshuffle has not seen a dramatic increase in diversity either, with white men still dominating Facebook's leadership team, and only one woman heading up one of the new subdivisions (Naomi Gleit, who will lead integrity, growth and product management as part of Javier Olivan's group).

The new internal team or blockchain group will be formed under the "New platforms and infra" division, which will be led by Facebook CTO Mike Schroepfer.

According to Recode on Tuesday, the news came as Facebook Inc carried out its biggest executive shakeup in 15 years.

During the last six months, three people who have had conversations with Zuckerberg said he wanted Facebook to aggressively pursue applications for blockchain across the company. Marcus became a board member of Coinbase, the leading U.S. cryptocurrency exchange in last December. I will miss them but I know Messenger is in great hands with Stan Chudnovsky and they will continue to create fantastic experiences for all the people who depend on it around the world.

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David Marcus, head of Facebook Messenger, issued a statement on the social media platform advising of his intentions to explore the use of blockchain across Facebook. Facebook is now entrusting WhatsApp to Chris Daniels, who was previously in charge of the company's Internet.org initiative that works to spread connectivity in developing countries.

The report comes as Facebook has faced fallout over data privacy and "fake news", amid revelations of data sales to outside firms like Cambridge Analytica, and evidence of Russian election interference.

Lastly, central product services is a lot of the core functionality that drives the company: Ads; analytics; integirty, growth, product management. Recode notes that, as the former President of PayPal, Marcus has lots of experience with payments. Mark Zuckerberg is still the king of the castle, but everything below him is taking a different shape as WhatsApp, Messenger and Facebook's Core app get new leaders.

It is yet to be revealed how Facebook will look to utilise and implement blockchain technology.

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