On May 8, David Marcus, who headed up Facebook’s Messenger for the past four years, tweeted his plans to set up a “small group” within Facebook to “explore” how to best leverage blockchain technology. And that was it. Since then, no official plans have been announced for a technology that some say could threaten Facebook’s role as a kingpin of a the centralized online ecosystem. However, Cheddar reported that Facebook could develop its own cryptocurrency, something messaging app rival Kik did a year ago as a way to better compete with Facebook.
There are plenty of potential use cases for Facebook. It could foster payments through Marketplace, improve identity verification of users, or maybe even fix some of the ongoing worries about ad fraud and viewability. It might even create a new way to fund virtual reality.
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