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Facebook Exploring Blockchain Technology – Good Idea?

Facebook exploring blockchain

Facebook exploring blockchain: There are a number of companies who have implemented blockchain technology in 2018. The latest to do so, however, is Facebook. On Tuesday, word broke that Facebook is making changes to its management team. Specifically, taking the head of the Messenger team and moving him to a new position — head of an internal team dedicated entirely to blockchain.

Facebook Exploring Blockchain Technology

On Tuesday, Recode published an article which stated that Facebook is going to start looking at blockchain technology. According to the report, the team looking at the technology will be led by David Marcus. For those who don’t know, David Marcus is a top executive at California-based Facebook. He was previously in charge of the Facebook Messenger team. Joining Marcus will be a few executives from Instagram, a company Facebook acquired some years ago.

According to Recode, Facebook has yet to announce why it decided to start exploring blockchain. However, it’s not hard to put two and two together. After all, blockchain is immensely popular, and if Facebook decided to pursue the technology, that could add some serious validity to the cryptocurrency sector. Additionally, Zuckerberg hasn’t exactly stayed silent on the subject. Back in January, the 33-year old CEO stated he wanted to start exploring decentralizing technologies, such as cryptocurrency. He then said he wanted to learn how to use them so he could apply them to Facebook’s services. 

So, is this a good idea? Should Facebook start a team intended solely for exploring blockchain technology? Let’s see what some people have said since the news surfaced yesterday. 

>>Bloomberg Galaxy Crypto Index Launched Today

What is the Crypto Market Saying about Facebook Exploring Blockchain?

One cryptocurrency analyst – Anthony Pompliano – seemed optimistic about the news, tweeting the following: 

His tweet struck up a conversation within the crypto community. Someone asked the analyst if Facebook exploring blockchain could turn around and end up being a bad thing. The Twitter user also stated that they couldn’t imagine Facebook launching an initial coin offering. 

Then, in response, Pompliano stated that he does, in fact, believe Facebook will launch a token somewhere down the line. Same goes for Tesla and Amazon. What do you think? Let me know below. 

Featured Image: Twitter

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