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Fb's David Marcus to Lead New Blockchain Analysis Unit

Social media massive Fb is launching a crew devoted to exploring blockchain era.

The initiative shall be spearheaded David Marcus, who has served as the corporate’s vice chairman for its Messenger app department. Marcus is a former president of PayPal.

“After just about 4 unbelievably rewarding years main Messenger, I’ve made up our minds it used to be time for me to tackle a brand new problem. I am putting in place a small workforce to discover the way to best possible leverage blockchain throughout Fb, ranging from scratch,” Marcus wrote in a submit on his Fb web page on Tuesday.

A document from Recode indicated that whilst the crew can have fewer than a dozen other people, it is going to function engineering and product personnel from Fb’s Instagram unit as smartly.

Even if it stays unknown at this degree the precise paintings to be performed by way of the brand new crew, the scoop marks a notable transfer by way of the social media massive.

It additionally follows a remark made by way of the ex-PayPal president – who joined the board of administrators of crypto alternate Coinbase ultimate 12 months – that Fb Messenger is open to the theory of embracing cryptocurrency bills as soon as the blockchain neighborhood can “repair the entire problems.”

The formation of Fb’s new blockchain crew follows a platform-wide ban on cryptocurrency-related advertisements, with the social media corporate cciting issues that customers were uncovered to fraudulent ICOs and cryptocurrency schemes.

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