Facebook gets a Blockchain team

Facebook gets a Blockchain team

Koum's departure and Tuesday's shuffle come as Facebook is reeling from a data scandal that affected tens of millions of Facebook users when the political firm Cambridge Analytica exploited a loophole on the social media platform.

The experimental blockchain group will be led by David Marcus, the executive most recently in charge of Facebook's Messenger group. Several other key members will have new responsibilities. One will be tasked to tap into emerging technology, such as the blockchain which powers cryptocurrencies like bitcoin. Notably, you will find that this rejig doesn't see anyone leaving the organization. The visual representation of these changes reveals just how few women are in the company's top leadership responsible for products and engineering.

Earlier this year, Facebook Chief Executive Mark Zuckerberg had expressed his interest to study the positive and negative aspects of encryption and cryptocurrency.

Chris Cox, the chief product officer in charge of the flagship Facebook service, will now also oversee the widely used services Instagram, Messenger and WhatsApp, the company said. Will Cathcart will become head of Facebook's core application, the company said.

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Facebook is going through a massive executive shakeup, reorganizing and assigning new leaders to practically all of its major product teams. As part of this week's reorganization, most Facebook apps are getting new leaders, save Instagram, which will continue to be run by Instagram CEO Kevin Systrom.

Photo Mike Schroepfer, Facebook's chief technology officer, will lead a division focused on emerging technologies like virtual reality and artificial intelligence.

The new hierarchy at Facebook is split up into three overarching groups: the app family, new platforms and infrastructure, and central product services. This is also true for potentially large areas of growth within the company, like AR and VR, as well a brand-new blockchain initiative. The Central Product Services will encompass ads, security, and growth teams - basically "all of the shared features that operate across multiple products or apps", according to Recode.

This rejig of executives is meant to increase privacy of the users and improve executive communication.

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