Facebook Increases Focus on Blockchain with One of its Most Senior Engineers

In a major move, Facebook increases focus on blockchain as one of its most senior engineers, Evan Cheng becomes Director of Engineering Blockchain. Following the backlash from the Facebook data scandal, industry experts say the social networking behemoth may be leveraging blockchain technology to help users control, or even monetise their data. The ‘tech’ industry is rife with speculation, as Cheng’s specialist knowledge on performance and scalability indicates the potential of the project. Cheng joins the Blockchain Team headed up by former president of Paypal David Marcus.

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facebook sparks blockchain for social networks FTSE / NASDAQ NEWS 

Facebook Data breach, sparks discussion on blockchain for social networks

Facebook’s data security breach has sparked discussions on a ‘permission-based’ decentralised blockchain for social networks. The recent data breach by Cambridge Analytica, a political consultancy that inappropriately obtained detailed information of over 50 million facebook profiles, has revealed how data can be exploited in the worst possible way.

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