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.

More news: Mariners' Paxton pitching no-hitter through 6 vs Blue Jays
More news: Jinnah's portrait symbolises partition of India, should be removed: Union minister
More news: Arsenal's Laurent Koscielny out for six months with achilles injury

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.

Related Articles

  • Destiny 2: Warmind DLC out now

    Destiny 2: Warmind DLC out now

    This week, the crew is revisiting the 2017 blockbuster Destiny 2to celebrate the launch of Warmind , the game's second expansion. If you're unfamiliar with the game, which is now available for PS4, Xbox One , and PC, you can check out our review .
    Warriors, Rockets on course for West Finals

    Warriors, Rockets on course for West Finals

    The Warriors gave JaVale McGee the starting nod in the series against San Antonio but switched things up in this series . They have just too many weapons, and too many diverse ways to exploit you, that teams can't try to defend them all.
    In Russia elected a

    In Russia elected a "new old" Prime Minister

    A total of 430 lawmakers participated in the voting, with 374 voting in favor of Medvedev, while 56 MPs voted against. Under Russia's constitution, the government is obliged to resign when a new presidential term begins.
  • It Happened. Katy Perry Extended an Actual Olive Branch to Taylor Swift

    It Happened. Katy Perry Extended an Actual Olive Branch to Taylor Swift

    At the time, Swift told Rolling Stone without mentioning Perry's name, "For years, I was never sure if we were friends or not". Perry, 33, and Swift , 28, were friendly at the start of their careers, but by late 2013, their relationship had soured.
    Pompeo arrives in North Korea for pre-summit meetings

    Pompeo arrives in North Korea for pre-summit meetings

    Pompeo said their release would be received as a significant goodwill move by Pyongyang ahead of any Trump-Kim summit. In a pool report on his way to the region, Mr.
    Google launches auto-complete sentences in Gmail

    Google launches auto-complete sentences in Gmail

    You can also report an email as a phishing scam by clicking on the dropdown menu, marked by an arrow, in the righthand corner. The suggestions will appear in faint type ahead of your cursor; hitting the tab button will add them to your message.
  • Mourinho eyes Willian if Chelsea want Martial

    Mourinho eyes Willian if Chelsea want Martial

    Finally, Both Arsenal and Chelsea have both been alerted to fresh reports that Leonardo Jardim will leave Monaco this summer. Manchester United boss Jose Mourinho has reportedly approved Anthony Martial's potential move to Juventus .
    Israel strikes Iranian targets in Syria

    Israel strikes Iranian targets in Syria

    Israel has warned of open war with Iran, saying it will not allow Tehran to establish a permanent military presence in Syria. Israel then destroyed what it describe as the Iranian command and control center in Syria that dispatched the drone.
    Big viewership drop for the post-Backlash episode of WWE Raw

    Big viewership drop for the post-Backlash episode of WWE Raw

    It was also a big night in sports with National Basketball Association and NHL playoff games airing as competition for Raw. - As noted, hometown star Zack Ryder faced Curt Hawkins in a WWE Main Event match before this week's RAW on Long Island.
  • Comcast Plans to Oubid Disney for Fox

    Comcast Plans to Oubid Disney for Fox

    A handful of notes from Wall Street analysts said Comcast's involvement was likely to push Disney to raise its existing offer. Revenue increased 9% year-on-year to $14.5bn, driven by gains in the company's film unit.
    Mark Williams Does His Post World Championship Press Conference Naked

    Mark Williams Does His Post World Championship Press Conference Naked

    Williams failed to qualify for the 2017 tournament, and said he had watched it from his caravan. My missus couldn't stop crying for ages, I got a little bit emotional towards the end as well.
    Sensex Jumps Over 150 Points, Nifty Touches 10750, ICICI Bank Surges 7%

    Sensex Jumps Over 150 Points, Nifty Touches 10750, ICICI Bank Surges 7%

    On the global front, U.S. markets managed to close on a flat note after initially trading in the red yesterday. Major laggards were HDFC, ICICI Bank , Axis Bank, Bharti Airtel, Adani Ports falling almost 1.5 percent.