With over 2 billion users, Facebook could create the world's first mass market cryptocurrency
The biggest management reshuffle in Facebook’s history has revealed the social network’s intentions to develop blockchain technology, though it is not yet clear for what purpose.
David Marcus, the former head of Facebook Messenger, announced this week that he will lead an exploratory blockchain group that will report directly to the company’s CTO, Mike Schroepfer.
Mr Marcus made the announcement in a Facebook post on Tuesday, 8 May, following rumours that Facebook CEO Mark Zuckerberg is interested in creating his own cryptocurrency. But very few details were given about what Mr Marcus's team will actually be working on.
“After nearly four unbelievably rewarding years leading Messenger, I have decided it was time for me to take on a new challenge,” Mr Marcus said.
“I’m setting up a small group to explore how to best leverage blockchain across Facebook, starting from scratch.”
