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6 Answers - If Blockchain Was Truly Revolutionary, Why Wouldn't Top Tech Firms Like Facebook, Amazon, Google, And Apple Be Doing More With It? - Quora

6 Answers - If Blockchain Was Truly Revolutionary, Why Wouldn't Top Tech Firms Like Facebook, Amazon, Google, And Apple Be Doing More With It? - Quora

If blockchain was truly revolutionary, why wouldn't top tech firms like Facebook, Amazon, Google, and Apple be doing more with it? Because these top tech firms thrive on controlling massive troves of centralised data, whereas Blockchain is designed specifically to decentralise data. There are massive efficiency tradeoffs in order to create a system that is secure and truly decentralised. Facebook, Amazon, Google etc are successful centralised organisations, that allows them to be orders of magnitude more efficient and cost effective than anything built on the blockchain would be. Blockchain is revolutionary, but only certain applications are truly suitable for it. I have created a Should I build it on a blockchain? decision tree that helps demonstrate the pros and cons of blockchain for different applications. Blockchain is a solution in search of a problem. It enables parties that don't trust each other to maintain a reliable record without needing a trusted third party. However, in most situations in the real world, there are several trusted third parties. We trust the New York Stock Exchange to settle our stock trades correctly, for example. Cryptocurrency is a special case, because most currencies are controlled by a third party government that is very much not trusted, and currency-like commodities such as gold are impacted by real world events like changes in mining costs. Furthermore, laws make it difficult to move traditional currencies and commodities around the globe, to establish new currencies, and to transact anonymously. Cryptocurrency solves these problems. All that said, I'm sure all of these companies do have small teams exploring possible applications of blockchain technology. They may even have products in development right now. But I kind of doubt i Continue reading >>

Facebook Taps Coinbase Board Member To Lead Blockchain Initiative

Facebook Taps Coinbase Board Member To Lead Blockchain Initiative

Facebook Taps Coinbase Board Member to Lead Blockchain Initiative Join our community of 10 000 traders on Hacked.com for just $39 per month. David Marcus will be leaving his leadership role at Messenger to oversee a new Facebook team focused on blockchain technology, according to Recode . The team, which will reportedly have less than a few dozen employees, will include James Everingham, vice president of engineering at Instagram, and Kevin Weil, Instagrams vice president of product. Stan Chudnovsky, who oversees product at Messenger, will assume Marcus former role. Marcus, former president of PayPal, brings payments expertise. He has also overseen major changes at Messenger, including the decision to separate Messenger from the core app to allow users to download the standalone app and get mobile messages. Healso oversaw the push into customer service bots, shopping and advertising. Facebooks move into blockchain will bring new credibility to the cryptocurrency industry. While Facebook will not necessarily create its own cryptocurrency, the company could well find new uses for blockchain technology, such as encrypted data storage. Marcus a longtime cryptocurrency advocate who joined cryptocurrency exchange Coinbases board of directors in December will report to Mike Schroepfer, Facebook CTO. Chudnovsky will report to Chris Cox, chief product officer. The new roles are part of a reorganization announced at the company this week, marking its largest restructuring to date. Weil, who joined Instagram from Twitter back in 2016, will be replaced at Instagram by Adam Mosseri, who has been running Facebooks News Feed. Also read: Zuckerberg vows to study cryptocurrency to fix (decentralize) Facebook Facebook founder and chief executive, Mark Zuckerberg, stated his intention ea Continue reading >>

Mark Zuckerberg Is Right To Explore The Potential Of The Blockchain For Facebook

Mark Zuckerberg Is Right To Explore The Potential Of The Blockchain For Facebook

In what is Mark Zuckerbergs now-traditional New Year speech, the Facebook supremo pledged to fix the social networks many problems which bubbled up in 2017. Perhaps understandably, that admission hogged the headlines butZuckerberg also said he plans to study encryption and the blockchainsee how best to use them in our services. That statement comes amid a period of crypto frenzy, with the cryptocurrencies themselves rising in value significantly,and its already prompting some people to speculate on what companies Facebook should buy.It marks a rare time that the CEO of a major global tech company has committed to even exploring the blockchain. Itsreally a no-brainer for Facebook to look into these technologies since there is serious potential to advance the current tech status quo in meaningful ways. In his post, Zuckerberg makes mention of international censorship and, in theory, a decentralized service could circumvent such measures such Chinas blocking of Facebook and Twitter, or Irans recent clampdown on Instagram and Telegram . We know that appeals to Zuckerberg. The Facebook founder has long believed his companys mission is to connect the world to the point that he still makes much-mocked efforts to woo the Chinese government and the blockchain is a technology that, if utilized correctly, could give Facebook a platform to beat censors worldwide, even in China. For example, Steemit is a Reddit-like decentralized social network that operates on the blockchain. Beyond a more robust position against censors, the service rewards its users for good content with small amounts of cryptocurrency and has penalties for spam and fake content.Its an early effort with a small community that has struggled to gain widespread adoption, but it might give Zuckerberg some early clue Continue reading >>

What A Facebook Blockchain Token Might Look Like

What A Facebook Blockchain Token Might Look Like

What a Facebook Blockchain Token Might Look Like Jan 22, 2018 at 13:00 UTC|UpdatedJan 23, 2018 at 17:50 UTC Michael J. Casey is chairman of CoinDesk's advisory board and a senior advisor of blockchain research at MIT's Digital Currency Initiative. Mark Zuckerberg, worth $71 billion at just 33, has done rather well by Facebook's centrally managed system. Over the past decade and a half, the social media behemoth's closed-source algorithm has quietly manipulated its millions of users' news feeds to capture maximum ad dollars and steer them all to Zuck and his shareholders. So, why is he exploring a more decentralized model? And what role might crypto technology play in that? In a New Year's post to the platform, the Facebook CEO noted (with zero irony, it seems) that "With the rise of a small number of big tech companies ... many people now believe technology only centralizes power rather than decentralizes it." And he vowed, on that basis, "to go deeper and study the positive and negative aspects" of decentralizing, people-empowering technologies such as cryptocurrencies and encryption. It was followed by another post telling users that upcoming changes to their news feeds meant they "can expect to see more from your friends, family and groups" and "less public content like posts from businesses, brands, and media." It remains to be seen whether this bet in favor of "meaningful social interactions" over higher traffic content is, as Zuckerberg said, "good for our community and our business over the long term." The immediate reaction on Wall Street was harsh: Facebook's shares fell 4.5 percent last Friday following the second post. It was a predictable response: if Facebook will no longer curate new feeds to emphasize strong, ad-attracting content, then revenues, and ret Continue reading >>

Facebook Announces A Massive Reorganization And A New Blockchain Unit

Facebook Announces A Massive Reorganization And A New Blockchain Unit

Facebook Announces a Massive Reorganization and a New Blockchain Unit Facebook Announces a Massive Reorganization and a New Blockchain Unit The changes come following the fallout from the Cambridge Analytica scandal. Facebook is shaking up its org structure. The company will now be comprised of three key areas: New platforms and infrastructure, Central product services, and Family of apps. Facebook is also researching future applications of blockchain technology, with a small unit of employees dedicated to the tech. There's a massive shake-up afoot at Facebook . The social networking giant is undergoing a huge restructuring , switching up its executives and rearranging the company into three core areas. Recode has a big report out with lots of the key details , and some Facebook execs are sharing info on Twitter . A Facebook spokesperson confirmed the news of the re-organization to Business Insider. Facebook will now comprise of three key areas:Family of apps, led by chief product officer Chris Cox;New platforms and infrastructure, led by CTO Mike Schroepfer; andCentral product services, led by VP of growth Javier Olivan. The re-organization comes after a bruising year for Facebook. The company has been battered by headlines about its misuse in the spread of Russian propaganda and disinformation, and more recently, the Cambridge Analytica scandal has ignited fears over security and data privacy . Facebook itself, Instagram, WhatsApp, and Messenger all fall into the first category -- they're the core, consumer-facing smartphone apps that Facebook offers. After the departure of WhatsApp cofounder Jan Koum, Chris Daniels is taking over the encrypted messaging app, and Stan Chudnovsky is now heading up Messenger. The second category is some of the more experimental stuff F Continue reading >>

Minds Wants To Offer A Blockchain-based Alternative To Facebook

Minds Wants To Offer A Blockchain-based Alternative To Facebook

Minds Wants to Offer a Blockchain-Based Alternative to Facebook Minds Wants to Offer a Blockchain-Based Alternative to Facebook The decentralized social media platform Minds is making moves to implement the Ethereum blockchain into its core features. After launching in 2015, Minds.com has quickly grown to one million registered accounts and over 73 million unique page views. Now, the project is taking decentralization even further with the launch of the Minds Crypto Social Network. This evolution of the platform will make it a fully functioning dApp running on the Ethereum blockchain for both mobile and web devices, replete with a white paper to outline this direction and the specifications of the projects next step. This is the biggest upgrade weve ever done, Minds founder Bill Ottman told Bitcoin Magazine. We revamped the UX for the web and we completely rewrote all the mobile apps in React Native so theyre high performing now. Theres a whole list of changes. One of the most foundational changes is Minds migration to the Minds token for its native rewards system. Replacing the points system the platform currently has in place, Minds tokens will allow users to monetize their content through a peer-driven, incentive-based rewards system. Users can use Minds tokens to subscribe to or tip content creators on the platform, and platform participants will receive a portion of the Minds Daily Reward Pool proportionally to the popularity of their posts. For now, the token model will run on the Ethereum testnet until the team is certain of its functionality and reliability. In addition, Minds.com will feature a built-in wallet for these tokens so users can freely manage their earnings, subscribe to exclusive content from other users and transact with each other on the platform Continue reading >>

Facebook Forms Blockchain Group For Solutions To Data Privacy

Facebook Forms Blockchain Group For Solutions To Data Privacy

Facebook Forms Blockchain Group for Solutions to Data Privacy Share on Facebook Share on Twitter Share on Telegram Share on LinkedIn Under pressure from the U.S. Congress and users worldwide, Facebook is seeking an innovative solution to its data privacy-related issues. In an effort to achieve these goals, the worlds leading social network has formed an experimental blockchain group led by David Marcus, the previous head of Messenger and Coinbase board member. Related Story: Disgraced Data Analytics Firm Cambridge Analytica Is Halting Its Plans for an ICO The well-known Cambridge Analytica scandal, beginning in December 2015 first revealed the dangers of big data breaches at Facebook. Nearly 50 million users data was harvested in an illegal breach by a political consulting firm later hired by President Donald Trump raising mass awareness as to Facebooks security vulnerabilities. Following an arduous past few months facing congressional hearings and user backlash, Facebook has re-evaluated its management systems in an effort to prioritize the issues it faces today. Facebooks Reorganized Management Model (Source: Facebook) According to a report by Recode , the company will reorganize into three separate divisions, each dedicated to a category of operations: Family of apps (Instagram, WhatsApp, Messenger, and Facebook) New platforms and infra (Facebooks VR, AR, and AI projects) Central product services (shared features such as ads, data security and storage). The new internal team or blockchain group will be formed under the New platforms and infra division, which will be led by Facebook CTO Mike Schroepfer. David Marcus, the previous head of Messenger at Facebook and Coinbase board member. David Marcus, the previous head of Messenger at Facebook and Coinbase board member Continue reading >>

Facebooks Troubles Underscore Blockchains Opportunity

Facebooks Troubles Underscore Blockchains Opportunity

Facebooks Troubles Underscore Blockchains Opportunity Status updates. Likes. Photo uploads. Friend requests. DMs. Tags. Clicks. Views. Every action you perform on Facebookand its sister services like Instagram and WhatsAppsurrenders data to the business well-oiled surveillance machinery. Maintaining a presence on the social network means granting the company the right to stewardand sellyour personal information to advertisers. Its been said a zillion times, but it bears reiterating: If youre not paying, youre the product. Why should Facebook rake in tens of billions of dollars a year on the backs of its 2 billion-plus user base? Its the peoples data, after all. Shouldnt theyI mean, webenefit from it? In the inaugural episode of Balancing The Ledger, Fortunes new show covering all things fintech-, crypto-, and blockchain-related, Fortune digital editor Andrew Nusca discusses the potential for distributed, blockchain-based social networks to displace Facebook, alongside senior writers Robert Hackett and Jen Wieczner. After the recent Cambridge Analytica controversy , which involved a political consultancy misappropriating and misusing peoples data in an attempt to influence the 2016 presidential election, Facebook has come under intense fire. A fomenting #deletefacebook campaign has attracted the likes of billionaire Elon Musk and, poignantly, Brian Acton , an entrepreneur who made billions on his sale of WhatsApp to Facebook in 2014, among others. Right now theres a groundswell of people who want something else, Nusca said. If you could only keep control of your data with blockchain technology, then this is a way so you wouldnt have to give it over to companies like Facebook, said Wieczner, noting that centralized entities are exactly what blockchains were invented to g Continue reading >>

Facebook's Coming Blockchain Problem | Venturebeat

Facebook's Coming Blockchain Problem | Venturebeat

Much has been written about the Russia-Facebook advertising scandal of 2017. The episode has revealed the first (and maybe only) achilles heel for Facebook CEO Mark Zuckerberg. His profit-making machine depends on being one of the two main outlets (the other being Google) where the world spends its $500 billion+ in advertising dollars . Yet, as we saw earlier this year with Googles YouTube video issues , brands are willing to forego the potential massive reach of these platforms when they are associated with things they find unsavory. In the YouTube case, brands didnt trust Google to keep their reputations intact. In the Facebook example, people are losing trust in Zuckerbergs ability to not totally destroy their society. Ben Thompson put together a brilliant write-up of the challenges facing Zuck in a post called Trustworthy Networking. Its well worth the read. The first issue is that Facebook is delivering these ads at a pricepoint so low (less than $30) that it would be prohibitively expensive (in fact, suicidal) for the company to manually review them. Its not feasible. So, as Thompson says, Facebook needs to harden the operating system (an expression he borrowed from Bill Gates memo on trustworthy computing following the massive number of viruses prior to the release of XP2). Increasing the requirements for authenticity (more documentation, etc.) Making advertising more transparent (more tools and tech to catch the bad ads) Its a good step for now. The effort will increase Facebooks costs, although its unclear by how much. But despite these efforts, Facebook has a trust problem and will continue to have a trust problem because: It has a massive audience that is a honeypot when it comes to attracting the attention of bad actors Policing those actors at scale will c Continue reading >>

Youtube And Facebook Are Losing Creators To Blockchain-powered Rivals

Youtube And Facebook Are Losing Creators To Blockchain-powered Rivals

YouTube and Facebook Are Losing Creators to Blockchain-Powered Rivals Some say privacy concerns, censorship, and a coming ban on cryptocurrency ads are driving them away from the big names. Illustration: Joel Plosz for Bloomberg Businessweek Peter Furious Pete Czerwinski has close to 5 million YouTube followers , but they cant see most of his new videos there. To get 46 of the 71 weightlifting and competitive-eating videos hes posted in the past two months, fans have to use DTube . It looks a lot like YouTube, but video creators rely on donations from viewers instead of ad revenue, and the sites moderators rarely try to censor potentially offensive material. Czerwinski, who made the switch two months ago, has said he felt his material could no longer get the circulation it deserved on YouTube. He didnt respond to requests for comment. While YouTube has had to start taking a tougher line on censoring offensive videos that advertisers dont want to be associated with, a growing swath of creators have fled to sites such asDTube to avoid the constraints. Like other upstart sites, DTube runs on the blockchain network Steem, and users can pay creators and commentersin digital tokens. Thats another point of distinction with YouTube, as well as with Facebook and Twitter.All three advertising-driven sites are phasing out ads for cryptocurrencies, shielding themselves from potential legal liability if the ads are scams or the digital coins are eventually regulated as securities. Video creators with an interest in cryptocurrencysay thats also a factor driving them away from the big names. In the wake of Facebooks data scandal, privacy is a third. YouTube didnt respond to a request for comment for this story;Facebook referred to previous statements that the company is working to re Continue reading >>

Facebook Forms Exploratory Blockchain Team Led By Coinbase Board Member

Facebook Forms Exploratory Blockchain Team Led By Coinbase Board Member

Facebook Forms Exploratory Blockchain Team Led By Coinbase Board Member Facebook has formed an experimental blockchain group led by head of Messenger David Marcus to examine the technologys best application across Facebook. David Marcus, the head of Facebooks messaging app Messenger, announced that the social media site is exploring possible applications for blockchain technology, CNBC reported May 8. I'm setting up a small group to explore how to best leverage blockchain across Facebook , starting from scratch, Marcus shared in a post Tuesday afternoon on his personal page. Marcus has been leading Messenger for almost four years. In December, he joined cryptocurrency exchange Coinbase as a board member. Facebook, however, hasnt revealed how interested it is in applying blockchain. The move comes as Facebook implements a broader shake-up of their product team. From now on, the company will operate under three divisions: a family of apps group, "central product services" and new platforma and infra, Recode reported Tuesday. In January, Facebook CEO Mark Zuckerberg said he would be looking into digital currencies in order to explore their potential for empowering individuals. He stated that the power of decentralized systems like cryptocurrency could help take power away from the centralized system and place it back in the hands of individuals. In January of this year, Facebook initiated a blanket ban on ads for cryptocurrencies and initial coin offerings (ICOs). The ban came as a surprise to some, as Facebook founder Mark Zuckerberg had previously expressed interest in cryptocurrencies. Zuckerberg reportedly wanted to study how the decentralized nature of cryptocurrency could empower individuals and how best to use them in our services. Continue reading >>

Yoyow.org - The Blockchain Version Of Facebook, Quora And Zhihu

Yoyow.org - The Blockchain Version Of Facebook, Quora And Zhihu

Following are some main features of yoyow project: All text content such as articles, urls are storage on the yoyow blockchain, multi-media content such as images, videos will be storage on InterPlanetary File System (IPFS) network. The underlying architecture used by yoyow blockchain is Graphene that provides lightning fast confirmation speed which is essential to a blockchain-based content platform. Like witness system used by bitshares, yoyow has a similar system called Council.The members of Council are elected by stakeholders of the platform. Except for generating blocks, etc. the Council also has the right of removing content from the blockchain if the content violates the law. BUT the removal right can only be used when majority is reached in the Council. For any kind of social media platform and website, its value is always about website traffic. Platform carry information users needed. Traffic brings advertisement and profits to platform. So we believe users value to the platform can be evaluated by how many effective traffic users brings to the yoyow platform, and at the same time, yoyow gives rewards to users that creates useful content which attract more traffic to the yoyow platform For more info, visit: Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one. Continue reading >>

What's The Deal With Facebook And The Blockchain?

What's The Deal With Facebook And The Blockchain?

What's the Deal With Facebook and the Blockchain? What's the Deal With Facebook and the Blockchain? Facebook executive David Marcus is reportedly moving to a new unit involving blockchain technology. What's the Deal With Facebook and the Blockchain? Facebook executive David Marcus is reportedly moving to a new unit involving blockchain technology. On Tuesday Facebook reorganized the duties of its product executives, in the process creating an unusual new division: David Marcus, formerly head of Facebooks Messenger app, will now lead a team of fewer than a dozen people dedicated to blockchain technology, according to Recode . Hell be joined by notable executives including Kevin Weil, former VP of product at Instagram, and James Everingham, VP of engineering at Instagram. Its not clear what the company is up to here. Facebook representatives did not immediately respond to questions from WIRED. In the absence of any specifics, WIREDs Erin Griffith and Sandra Upson, who write about blockchain technology, offered to speculate: Erin: We knew Facebook would at least dabble in this area. The risk of missing outjust in case the crypto evangelists are correct and blockchain technology turns out to be bigger than the internet revolutionis too great to ignore. Facebook made this mistake with one big tech wavemobile. For the past year, Facebook has been sniffing around blockchains in exploratory mode, with corporate development staffer Morgan Beller learning about the tech and reporting back to top execs. Sandra: So do you think theyre mostly covering their butts? Im wondering about the biggest, most audacious thing Facebook could do in this space. Erin: Its in their playbook! The $2 billion they spent on Oculus VR and the $19 billion they spent on WhatsApp were essentially butt-co Continue reading >>

Decentralising Facebook With Blockchains And Userfeeds.

Decentralising Facebook With Blockchains And Userfeeds.

Co-founder of Userfeeds.io the information relevance platform for the Web 3.0 stack enabling token-curated feeds and ranking algorithms. Decentralising Facebook with Blockchains and Userfeeds. Update from 11.10.2016: were actually building a platform based on the ideas from this article. The concept has evolved but if youre interested please leave your email at userfeeds.io . Well notify you when we launch the test version. Almost two years ago I wrote a blog post Why the next Facebook will be owned by you . It became clear to me at the time that the core invention behind Bitcoin, the blockchain, is much bigger than just sending money online. I argued that the concept of decentralised digital ownership, which Bitcoin applied to money, can be extended to other forms of value. What I realised at the time was that owning bitcoins meant owning a stake in the underlying network. Holders of bitcoin not only owned a particular number of currency units. These units, apart from being a unit of exchange, were shares in the future success of the entire network. For the first time in history, millions of people around the globe could align their economic incentives by downloading and using the same software. This realisation blew mymind. What if we could use the same technology to align our incentives in other forms of digital value exchange? To illustrate the point, lets use the example of Facebook. Facebook as a company is a hybrid entity. It uses a 21st-century technological stack that allows a decentralised creation of value people create value for each other on Facebook by uploading millions of posts, photos and videos. If you want to access this content you have to join Facebook. But economically Facebook operates on the 17th century legal stack of a joint stock company. It Continue reading >>

Blockchain-based Websites Aim To Disrupt Facebook By Paying Their Users

Blockchain-based Websites Aim To Disrupt Facebook By Paying Their Users

Blockchain-Based Websites Aim to Disrupt Facebook by Paying Their Users Blockchain-Based Websites Aim to Disrupt Facebook by Paying Their Users Share on Facebook Tweet Share Share Email Reddit Comment David Kadavy used to post on Facebook without expecting to get paid. Then blockchain came along. After stumbling onto a new corner of the Internet based on the digital-ledger technology, Kadavy said he gets paid to post his blog and podcast on Steemit , a website whose text are saved on a blockchain. The site has its own digital currencies, the best-known of which is called Steem, and pays people such as Kadavy who post and comment on the site. Kadavy, a 38-year-old American writer living in Colombia, said he made about $2,000 (roughly Rs. 1.3 lakhs) in January. "I feel like I'm in the Stone Age when I'm on Facebook or Twitter," Kadavy said. "They have no value without what you're contributing to them. If Facebook doesn't respond to this, things can change very quickly. They should be very concerned." The so-called financial Internet stands the Facebook business model on its head. With Facebook, users post content on the site and the company collects the money -- last year, $41 billion (roughly Rs. 2.66 lakh crores) in revenue. On Steemit, the money goes in the other direction. Facebook, with 2.1 billion monthly users, may not even see Steemit, which says 9 million users visit each month, in its rear-view mirror. But Kadavy is just one of hundreds of thousands of people who make money by posting, playing games and viewing ads on the new blockchain-based sites and apps, where nearly every user action is linked to token-based compensation. More than 1,000 such projects that record data onto digital ledgers and are called dapps, for decentralised applications, are live or in Continue reading >>

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