Facebook might be headed to a new direction to adopt blockchain as its CEO, Mark Zuckerberg confirmed on a new video he released on February 20. Talking to Jonathan Zittrain who is a law professor at Harvard University, Mark discussed the idea of making Facebook more decentralized by applying the blockchain technology.
During the interview, Mark stressed that Facebook was a significant force in decentralizing the world. He believes that most people joined the platform because it gives them power. Mark explains that the best application of blockchain technology can be on user authentication during the login process.
Facebook has been working so hard to ensure data privacy after the Cambridge Analytica case where people believe their data was exposed to 3rd parties.
Mark highlighted that individual data could be stored in a decentralized platform, the blockchain, and the user will have to log in without involving a 3rd party.
However, he notes that the decentralized system will give users better control of their data while at the same time raises the stake of more abuse. He bases his argument on the fact that it is easier to hold big companies such as Google and Bing accountable than a series of 3rd party apps.
Zuckerberg’s talk with Zittrain is the first talk within the series he wants to hold this year discussing the future of technology and its impact on society. Zittrain mentioned Solid which is a project led by Professor Tim Berners-Lee who is known as the inventor of the World Wide Web.
Solid is working towards having a platform that stresses on “true data ownership.” User data will be decoupled from many apps and then stocked in one ‘locker.’ It is only the user that will have access to this data, and no one else can log into the ‘locker.’ Professor Zittrain asked Zuckerberg of what he thought about the idea, and he responded by saying that we should focus on the philosophical goodness of such a system rather feasibility soon.
He highlighted that they were working on an encryption service for its messaging platforms and make it decentralized. He was quick to highlight the benefits of encryption as privacy and security. Mark is the opinion that people ‘expect Facebook to prevent people from exploiting and abusing their children or even terrorists from recruiting more people’.
Mark stated that he has an interest in blockchain and has been thinking about it a lot recently. He was quick to state that he has not yet figured out how to fully tap into it, but they are in the process. He notes that making Facebook fully decentralized will take massive computations. However, he notes that their focus is on decentralizing user authentication because it will be beneficial to both parties and also easy to implement at the moment.
We expect more from Facebook on the blockchain field as we all know that it acquired Chainspace early this month. This social media giant aims at benefiting from the expertise from Chainspace employees in the blockchain field.