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Facebook Appoints Director of Engineering Blockchain

Director of engineering blockchain: Facebook has appointed one of its senior engineers Evan Cheng as its first “director of engineering blockchain”. 

The new position was confirmed by Facebook on Tuesday and signals the companies seriousness about the technology.

Cheng has previously been responsible for heading up Programming Languages & Runtimes at Facebook. Prior to that, he held a 10-year stint at Apple.

Describing himself as “an engineer and a technical leader” his social accounts also imply that he is an expert in blockchain and cryptocurrency; “day job – programming languages, runtimes, compilers; night job – blockchain, crypto.” 

Director of Engineering Blockchain

The new position is another confirming step that Facebook is easing up on its harsh stance regarding cryptocurrency and is eager to embrace the innovations of blockchain technology. Facebook CEO Zuckerberg has always been an avid admirer of the technology and spoke of his interest on multiple occasions.

However, in January, the company announced a complete ban of crypto advertising on its platform in light of regulatory uncertainties and “to protect its users” from fraudulent opportunists advertising fake ICO’s.

It has since (and only very recently) lifted its conditions surrounding the ban allowing certain types of crypto ads to be posted, suggesting a more lenient stance is emerging.

Also in May, Facebook launched a team to explore blockchain technology. Its long-time head of its Messenger platform and top-executive at Facebook-California, David Marcus, was appointed as head of this team. Marcus is reported to be joined by a few executives from Instagram, a company Facebook also owns.

The Future

Zuckerberg has been vocal about his interest in decentralized technologies. The idea behind his interest is obviously with a vision to apply it to Facebook. With this new appointment, will we see a decentralized Facebook using blockchain in the not-too-distant future?

>>Will Facebook Acquire Coinbase?

In light of some of the major privacy scandals the company has faced this year, a blockchain facebook may not only be “trendy” it may be very necessary in order to keep user-trust alive and well.

Without that, Facebook might slowly perish.

Featured Image: GoogleImages/TNW

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Facebook Reverses Cryptocurrency Ad Ban

Facebook Reverses cryptocurrency ad ban: Facebook banned crypto advertising on its platform back in January of this year. This was a blanket ban on all ads crypto-related necessary to protect its users from illegitimate promoters.

It caused controversy.

In the ever-swaying battle for and against cryptocurrencies, it seemed that all the major social media platforms had gotten together like twittering school girls to leave cryptocurrencies out in the cold. Google, Facebook, Twitter, Instagram, and Bing, had all banned advertising of any sort of cryptocurrency. If Facebook is starting to ease on this, will we see the others follow? Is the world starting to fall in love with cryptocurrencies again?

People complain that these coins are so volatile. Well, equal are people’s opinions.

Facebook Reverses Cryptocurrency Ad Ban – Whats Going On?

Today, June 26, Facebook updated its policy to allow cryptocurrencies and services such as exchanges to once again be advertised. however, it still maintains its position on ICO advertising. The promotion of initial coin offerings is still prohibited.

Facebook claims it was spending the last few months “refining” its ban on crypto-relative advertising to allow “some ads while also working to ensure that they’re safe.”

The new policy now means that advertisers wanting to run cryptocurrency ads will have to submit an application which Facebook will then assess in order to determine eligibility. Applicants must include “any licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public backgrounds on their business.”

Facebook’s policy is still being developed and may be refined further in time “if necessary”. The company will listen to feedback and understands that not everyone will be happy as they still won’t meet all requirements of the submission necessities.

>>Robinhood Crypto: Is the Trading App Creating a Wallet?

Developments

As with most major companies, the underpinning technology of cryptocurrencies – blockchain technology- is continually being studied by Facebook as it updates its policies. It seems the company is tepidly moving back in favor of the digital coins and we might see a total lift of the ban in the months to come. 

Place your bets! Will Google be next to lift its ban? Share your thoughts below!

Featured Image: depositphotos.com/RedKoala

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