Facebook founder and CEO Mark Zuckerberg has hinted that Facebook may soon come up with its own cryptocurrency. Mark Zuckerberg cryptocurrency interest seems to be a step towards decentralization of power into people’s hands from centralized systems.
Mark Zuckerberg to study Cryptocurrency
Facebook founder Mark Zuckerberg yesterday wrote a Facebook post regarding the New Year and the personal challenge he takes every year since 2009. In the post he wrote how the world seems divided and how people have started to believe that technology centralizes the power.
Based on this point Mark stated that he is going to study centralization vs. decentralization, encryption and cryptocurrency. Mark also stated that how few companies have got control of the technology and how the government is keeping a watch on its citizen through them. The basic aim is to come up with something that is decentralized and not centralized.
With the rise of Blockchain based technology Bitcoin it looks obvious that Facebook too is going to get involved in this. Many experts have already predicted that Blockchain, which is a decentralized technology is going to dominate the future market.
The Debate of Centralization vs. Decentralization
Cryptocurrencies follows the principle of Blockchain which is a decentralized technology and therefore has got huge attention in the past. Facebook’s keenness to learn cryptocurrency, encryption is a step ahead of a future where Blockchain will dominate.
Zuckerberg in his post expressed the whole idea for investing his time in cryptocurrency is to transfer the power from centralized system and put it into the hands of common people. Recently Facebook was heavily criticized for getting biased in the US elections and helping US President Donald Trump in the election campaign.
Apart from his post, what really has concerned Zuckerberg is the rise of Blockchain technology and how Facebook may lag behind if it doesn’t brings required changes with time. Facebook may also bid in investing in Blockchain technology as presently there is no visible face in this technology.
It is possible that Facebook may become the pioneer in Blockchain technology. Facebook has earlier bought WhatsApp that at that time was the new evolving technology. What one may not see is that even Zuckerberg is interested in holding all the powerful technologies like AI, encryption and Blockchain in his hand.