Main navigation

Facebook CEO Mulls Adding Blockchain to Store Customer Data, Warning Against Cons of Decentralization

Thu, 02/21/2019 - 09:41
article image
Yuri Molchan
The head of the social media giant says he may introduce blockchain-powered storage for personal customer data
Facebook CEO Mulls Adding Blockchain to Store Customer Data, Warning Against Cons of Decentralization
Cover image via U.Today
Read U.TODAY on
Google News

On February 20, Facebook’s CEO visited a class of Harvard professor Jonathan Zittrain and spoke in front of his students. Among other things he spoke of was the possible implementation of DLT-based authorization of customer data.

Will Facebook integrate decentralization?

The discussion of the Facebook CEO and the professor revolved around the ways society and technology may develop in the future. In the course of the conversation, the company founder mentioned that Facebook may take part in the global trend of supporting decentralization.

He said that he and other people of his age were attracted to technologies, since they can give power and are not greatly decentralizing.

The CEO said he is eyeing introducing blockchain systems which would enable users to control their own data, letting them keep it on DLT systems and then to log into web services, avoiding services of middleman firms.

Facebook Reportedly Busy Making Stablecoin for WhatsApp Payments in India

Negative sides per Zuckerberg

The head of Facebook reckons that apart from positive sides, the open ledger technology has its technical difficulties which are possible to tackle, but there are moral cons too.

Facebook’s CEO assumes that there are ethical issues to the matter of blockchain. In his opinion, implementation of DLT systems can cause more abuse than there is now and that to solve those negative issues would be more of a hassle than those on conventional centralized systems.

Privacy vs. security

Zuckerberg pointed out that his company may start encrypting the personal messages of its users. He admitted how important it is for people to keep their messages private and secure.

He also said that the company must think about the safety of people in general – the Facebook team intends to do their best to prevent acts of terrorism, children abuse or recruiting, etc.

Facebook forays into DLT

Earlier in February, U.Today reported that Facebook had bought blockchain platform Chainspace, allegedly as part of their DLT integration.

Chainspace works to solve the scalability issues of blockchains though sharding and smart contracts.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at