In a recent interview with Harvard Professor Jonathan Zittrain, Mark Zuckerberg, the CEO of Facebook and one of the best-known faces in the world of tech, has commented that he would definitely be interested in including the Facebook login on the blockchain. The use of blockchain technology in handling Facebook login would hand back a great deal of power to the users and actual owners of the data, especially at the time of giving data access to third-party applications on Facebook.
It is no secret that Facebook is routinely accused of holding huge amounts of user data without involving them in decisions of how that data is used in informing advertisements or influencing opinions. By introducing blockchain technology into this, a decentralized system of having a distributed ledger, these allegations can be dealt with in a more transparent way.
In May 2018, Facebook created its very own blockchain team. The team was to be led by David Marcus, formerly involved in Messenger as its Vice President. This was created to primarily explore the possibilities of using blockchain technology in the process of running Facebook. Clearly, it does have some long-term plans up its sleeves for leveraging blockchain technology for this wildly popular social media platform.
A spokesperson had earlier commented:
“Like many other companies, Facebook is exploring ways to leverage the power of blockchain technology. This new small team is exploring many different applications. We don’t have anything further to share.”
Last year, the social media giant had also made headlines as it came to light that it was considering the development of a native cryptocurrency for facilitating payments. However, Zuckerberg’s recent comments regarding blockchain technology mark the first time anything solid has been said about Facebook’s adoption of blockchain.
In explaining how blockchain may be used to control access by third party apps, Zuckerberg also said:
“You basically take your information, you store it on some decentralized system and you have the choice of whether to log in in different places and you’re not going through an intermediary. There’s a lot of things that I think would be quite attractive about that.”