Facebook Taps a Member of Coinbase to Lead a Blockchain Initiative

David Marcus will be dropping his role as a leader at Messenger to supervise a new Facebook team that is focused on blockchain technology. The Facebook team (which according to reports, will have less than a couple of dozen staffs) will include the vice president of engineering at Instagram – James Everingham – and the vice president of product at Instagram – Kevin Weil.

What Marcus Did at Messenger

Stan Chudnovsky, who is in charge of product at Messenger, will now take over the former role of Marcus. The former president of PayPal – Marcus, brings payment expertise. Marcus has also supervised a lot of changes and developments at Messenger. He also oversaw the decision to distinguish Messenger from Facebook’s core application to enable users to download the app and receive mobile messages. Marcus also oversaw the creation of customer service bots, advertising, and shopping.

SEE ALSO:   Bitcoin Price Today USD - Latest Price Chart Analysis and Bitcoin Price Prediction 2020 - Bitcoin Price News Today -Wed Jun 20

New Credibility for Blockchain Technology

The move of Facebook into blockchain will result in a whole new level of credibility to the crypto industry. While Facebook won’t actually create its own digital currency, the company could look for new and better uses for blockchain tech, like encrypted data storage. Marcus – a digital currency advocate that joined the Board of Directors of Coinbase (a digital currency exchange) back in December – will report to the CTO of Facebook – Mike Schroepfer.

SEE ALSO:   What's The Difference Between Ripple XRP's Tech And Other Cryptocurrency Assets?-Wed Jun 20

Chudnovsky will report to the chief product officer – Chris Cox. The new roles and positions are announced at the company earlier this week, and it is the largest restructuring and reorganization the company has seen.

Direction from Mark Zuckerberg

Mark Zuckerberg (the CEO and founder of Facebook), made his intention known earlier this year to study decentralized technologies, specifically digital currencies. He said that he wants to do this as part of his pledge to fix and make Facebook much better in 2018.


Legal Disclaimer: The content of this website (smartereum.com) is intended to convey general information only. This website does not provide legal, investment, tax, etc advice. You should not treat any information on smartereum.com as a call to make any particular decision regarding cryptocurrency usage, legal matters, investments, taxes, cryptocurrency mining, exchange usage, wallet usage, initial coin offerings (ICO), etc. We strongly suggest seeking advice from your own financial, investment, tax, or legal adviser. Neither smartereum.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from smartereum.com.

SEE ALSO:   3 Transformative Blockchain Use Cases on ThunderChain Open Platform

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get Smart About Crypto!

Promise we won’t spam you!

We Are Hiring

Click here if you would like to join one of the fastest growing blockchain news companies in the world!