For some time now, rumors have been circulating that Facebook intends to exploit and benefit from Blockchain's technology, but the rumors remain just news and unconfirmed reports.
These reports go further, to emphasize the company's plan to issue a competitor to the currency of Bitcoin, yes a digitized digital currency possibly named Facebook Coin, and perhaps FaceCoin, although there is a currency that is really encrypted and has nothing to do with the US company.
During this week, Facebook has added a new section to Block Chin, and has recruited a team of specialists in the field.
This is a remarkable step in the world of technology companies. Until now, major technology companies have avoided investing in technology except for Microsoft, which has opened up to this field before others.
Mr. David Marcus, Head of Facebook Messenger, will head Block Block and will bring in a team of staff and professionals.
The company will explore how the company can take advantage of the technology for the social network and its products, the company said.
There are many possibilities that will come as a result of creating this section in the company and investing Facebook in Blockchain.
The company is ready to blockchain era and avoid falling due to ignoring this technique
We have seen before that Yahoo, Nokia and other companies have ignored smart phones and the technology has paid a heavy price, as its time is over and has fallen from the past.
Facebook is trying to control online communication and social networking services. Besides its social network, it has acquired Instagram, as well as other services.
It is expected that the social networks will be decentralized controlled by Blockchain and smart and do not suffer from many problems such as false news and false information, and when they appear will spread strongly and will fall Facebook and end the era.
The establishment of Blockchain means the company's readiness for the post-Web 2.0 era and the adoption of Block Qin, which will have a central role in the Internet in the future.
Blockchain integration for security purposes
Facebook is always at risk of hacking and leaking data. If this happens in the future, its reputation will be lost. We have seen how the recent leak of 87 million users has caused many problems and troubles for the company.
The world's largest social network will integrate Blockchain to better store, protect and encrypt data, thereby preventing major breakthroughs.
This means that the company will look at how to use this technology to store data securely and prevent penetration and reduce the violation of privacy.
In addition, relying on this type of database means speeding up data storage and meeting the growing needs and speed of the Internet that are evolving among users.
Facebook Coin
As the United States moves to regulate the digital currency and encryption sector, Facebook may seek to release its digital currency called our Facebook Coin.
The expected digital currency may be used within the social network and the company's services for the purchase of products and the conduct of business transactions, in addition to the possibility of payment by the advertisers of the company.
Of course, the currency will have a variable variable price subject to the demand and supply law and also available on the trading platforms.
Applying this idea would add billions of dollars to the company as additional liquidity, but it would not be easy to turn the currency into reality.
The company may fear accountability or charge it with US authorities that they use digital currency for tax evasion, terrorist financing and other illegal activities.
Although it has banned digital advertising and initial advertising, and has made both Twitter and Google to do so, these companies will lift the ban once the sector is codified and regulated.