Facebook CEO and founder Mark Zuckerberg examined the impact of Blockchain-based authorization of user data in an interview with Harvard Law professor Jonathan Zittrain on February 20.
During a discussion on topics such as the future of technology and society Zuckerberg noted that he was "thinking about the work [s] that we [Facebook] are a decentralizing force in the world." Zuckerberg said that humans of his generation in the technology came because "they give power to the individual rather than massively centralizing it".
Zuckerberg mentioned that he was considering a potential blockchain use case where users could have control over their data, adding, "Basically, you take your information, store it on a decentralized system, and have a choice. go through an intermediary in places without logging in. "
He noted that the" relatively compute-intensive "processes of decentralized technology could ultimately be o ver, there are also moral implications.
"I think the more interesting questions are not feasible in the short term, but the philosophical questions about the quality of such a system," said Zuckerberg. He explained that a decentralized system can give users more control over their data, but also lead to more abuse, and that any recourse would be far more difficult than with a centralized system.
Zuckerberg said that this is an example of the company Towards a more decentralized structure, it's about providing encryption in the messaging services. Zuckerberg outlined the benefits of encryption such as privacy and security, but further emphasized the importance of security because "people rightly have an expectation from us [Facebook] that we will do anything to prevent terrorists from recruiting people or people into exploitation from children. "
Earlier this month, Facebook allegedly acquired Chainspace in its first seemingly block-chain acquisition. The startup reportedly worked on blockchain scalability issues, in particular by applying sharding to intelligent contracts. However, Facebook reportedly acquired the startup primarily for the skills or expertise of its employees and not for the service or products it offers.