Facebook CEO and founder Mark Zuckerberg considered the ramifications of the blockchain-based authorization of user data during an interview with Harvard Law Professor Jonathan Zittrain on Feb. Zuckerberg noted that he "think [s] about the work we [Facebook] are a decentralizing force in the world." Zuckerberg said that people of his
Zuckerberg mentioned that he was considering a potential blockchain use case, by which users could have control over their data, adding "Basically, you take your information , you store it on some decentralized system and you have the choice to log into places without going through an intermediary. "
He noted that while the" relatively computationally intensive "processes of decentralized technologies could eventually be overcome, there are also moral implications.
"I think the more interesting questions there are no feasibility in the near term, but they are the philosophical questions of the goodness of a syst em like that one, "Zuckerberg said. He said that a decentralized system could give users more control over their data, but could also lead to more abuse, and any recurs would be much more difficult than centralized system.
Zuckerberg said that one example of how the company is moving towards a more decentralized structure is by offering encryption in its messaging services. Zuckerberg outlined the benefits of encryption, such as privacy and security, but further stressed the importance of safety given that "people have a legitimate expectation of us [Facebook]that we will do everything we can to stop terrorists from recruiting people or people from exploiting children. "
Earlier this month, Facebook reportedly acquired Chainspace in its first apparent blockchain-related acquisition. The startup was reportedly working on blockchain scalability problems, notably by applying sharding to smart contracts. Facebook, however, reportedly acquired the startup primarily for the skills or expertise of its staff, rather than the service or products the company provides.