Facebook, known for managing data in a highly centralised way, is now looking at using Blockchain technology, with it’s CEO Mark Zuckerberg extolling the benefits of decentralised systems as a more secure way to login. Zuckerberg recently stated ‘If you have a fully distributed system, it dramatically empowers individuals.’
Blockchain offers individuals control over their data so they can share and potentially monetize it, therefore taking control away from the current handful of tech giants that provide “free” services, while selling your data to advertisers.
Facebook seem to be increasingly active in the Blockchain space, having bought Chainspace earlier this year and announced it was going to launch FaceCoin on WhatsApp in India.
According to Zuckerberg, blockchain technology could be used also assist Facebook in getting rid of intermediaries.