The parent company of Facebook, Meta, is aiming for a “deeper compatibility” with the blockchain technology, according to the post published by an internal executive of the company. Let’s find out the details together.
Meta and blockchain technology: the focus is on compatibility
In a note from the New York Times, Andrew Bosworth, Meta’s Chief Technology Officer for next year, has outlined a framework for working with various technologies blockchain The cryptovalute. Bosworth noted that these technologies have now become part of the social network.
Mr. Bosworth also stressed the need for be cautious. However, he said the company should follow technologies before others, noting that the blockchain technology – basically distributed ledger systems – “could have a profound impact on our sector in the next decade”. Bosworth further added:
My general guideline is to aim for deeper compatibility with the blockchain. There aren’t many places where I am expected to be more exclusively addicted to it. However, if we look at the opportunity to work with entrepreneurs in the web3 space, I expect it to be worth it.
Technicians, entrepreneurs and investors from the technology sector have discussed the future structure of the Internet, with some believing that the decentralization provided by blockchain technology is a way to take power from giants including Meta and Google.
Despite Google’s reluctance to sink into cryptocurrencies, Meta tested them. He also attempted to create a global digital currency which can be used by Facebook and WhatsApp users. David Marcus, Head of the Crypto Program, announced his meta retirement last month after the digital currency has been renamed and faced scrutiny by regulators.
In his post, Mr. Bosworth further stated that the company should develop methods for working with verified assets using blockchain technology. Bosworth then concluded like this:
Most people are happy to use Facebook and Google, some are not. And the diverters are proportionately involved in creating a truly impressive wave of technology.
Zuckerberg’s company did not immediately respond to a request for comment.