Mired in a massive data breach controversy, Facebook has reportedly rolled out biggest-ever shuffle at the senior management level since its inception - across platforms, including WhatsApp and Messenger.
In any case, Facebook seems confident that the blockchain is a technology of great utility, and their placement of experienced board members on the new team signifies their deep interest in the decentralized ledger.
Before joining Facebook, Marcus was the president of PayPal, so he has a pretty good idea of how payments work in the digital age. Debate over "hacking back" heats up MORE saying in January that Facebook would explore potential uses of blockchain technology at Facebook. WhatsApp, for instance, will now be led by Chris Daniels, a Facebook executive who was previously tasked with bringing new people online through a free or affordable version of Facebook called Internet.org.More news: Some of Roquan Smith's stolen property recovered - but not his Bears iPad
Likely, the social networking giant would not be interested in building its own cryptocurrency, rather using the technology for other purposes such as encrypted data storage.
Facebook is still reeling after the Cambridge Analytica scandal, but it's not stopping the company from making some big changes.
According to tech news website Recode, Facebook has made long-time executive Chris Cox in-charge of Facebook, Instagram, WhatsApp and Messenger - now called a "family of apps". I will miss them but I know Messenger is in great hands with Stan Chudnovsky and they will continue to create awesome experiences for all the people who depend on it around the world. Mark Zuckerberg is still the king of the castle, but everything below him is taking a different shape as WhatsApp, Messenger and Facebook's Core app get new leaders.More news: Trump's polls improve despite 90% negative coverage
The Facebook founder had earlier announced looking into how cryptocurrency can be used in its services.More news: Strike hits presidential office in Yemen rebel-held capital: residents