Facebook manager and founder Mark Zuckerberg reviewed the consequences of blockchain-based user data approval during an interview with Harvard Law Professor Jonathan Zittrain on February 20.
During a discussion covering topics like technology and society's future, Zuckerberg noted that he "thinks [s] about the work we [Facebook] are a decentralizing force in the world." Zuckerberg said people in their generation came into technology because "it gives individuals power and is not massively centralizing."
Zuckerberg mentioned that he considered a potential blockchain use case that users could have control of their data and added: "Basically, you take your information, store it on some decentralized system, and you can choose to log in to sites without going through an intermediary. "
He noted that while the" relatively computationally intensive "processes of decentralized technology could eventually be o won, there are also moral implications.
"I think the more interesting questions are not possible in the short term, but are the philosophical questions about the goodness of a system like the one," Zuckerberg said. He stated that a decentralized system could give users more control over their data, but could also lead to more abuse, and any use would be far more difficult than on a centralized system.
Zuckerberg said an example of how the company is moving towards a more decentralized structure is by providing encryption in their messaging services. Zuckerberg outlined the benefits of encryption as privacy and security, but further emphasized the importance of security given that "people rightly expect from us [Facebook] to do everything we can to prevent terrorists from recruiting people or people from exploiting children. "
Earlier this month, Facebook acquired Chainspace in its first apparent blockchain-related acquisition, which was allegedly working on blocking scalability issues, particularly by seeking to distinguish smart contracts. Facebook has, however, initially achieved the start-up primarily for the expertise or the competence of their employees, instead of the service or products the company offers.