MARK ZUCKERBERG ANNOUNCES TO STUDY
CRYPTOCURRENCY AS A HINT TO DECENTRALIZE FACEBOOK
SOURCE :
BITCOIN NEWS
Mark Zuckerberg sets a personal
challenge
for 2018. Says would study the “positive and
negative aspects” of encryption and
cryptocurrency.
Almost the entire world is swept by the digital currency
wave and now the mogul of the social networking
world – Mark Zuckerberg has set his eyes on the world
of cryptocurrencies. In his latest Facebook post,
Zuckerberg has set a personal challenge for 2018 to fix
issues and improve services on his social networking
platform as well as study the “positive and negative
aspects” of cryptocurrency and encryption.C
Zuckerberg writes: “My personal challenge for 2018 is
to focus on fixing these important issues. We
won’t prevent all mistakes or abuse, but we
currently make too many errors enforcing our
policies and preventing misuse of our tools. If
we’re successful this year then we’ll end 2018 on a
much better trajectory. ”
One of the major challenges which Facebook currently
faces is fighting against fake news being spreader
through the use of its platform. He says that the
problem with the Internet these days is that it is
controlled by a few big companies which include
Facebook as well. He believes that this is somehow
against the actual vision of web which gives everyone
equal power and share.
In his long post, Zuckerberg writes “A lot of us got
into technology because we believe it can be a
decentralizing force that puts more power in
people’s hands. (The first four words of
Facebook’s mission have always been “give people
the power”.) Back in the 1990s and 2000s, most
people believed technology would be a
decentralizing force. ”
He further states that “ … today, many people have
lost faith in that promise. With the rise of a small
number of big tech companies — and governments
using technology to watch their citizens — many
people now believe technology only centralizes
power rather than decentralizes it. ”
Zuckerberg wishes to turn these things around and said
that he would look forward to studying cryptocurrency
and its underlying technology. We all know that around
the globe investors are divided about their opinion on
cryptocurrency but many of them come together and
are positive about the blockchain technology and its
future potential in a wide range of applications.
We have also seen that several banks and other
financial institutions who have denounced the idea of
digital currency but have supported the blockchain
technology.
Zuckerberg writes: “There are important counter-
trends to this – like encryption and cryptocurrency
– that take power from centralized systems and
put it back into people’s hands. But they come with
the risk of being harder to control. I’m interested
to go deeper and study the positive and negative
aspects of these technologies, and how best to use
them in our services. ”
2018 would be an interesting year to see how Facebook
other players take up the blockchain technology to
improve their digital products and services.
Follow @steemingit40