Leaked Meta Memo Shows it May Integrate Blockchain Technology

A leaked internal notice from Meta, the parent company of many social media platforms we use today, reveals that the company will most likely be delving into blockchain technology in the coming years. The note sent to all employees was authored by Andrew Bosworth, who will become Chief Technology Officer (CTO) next year. It laid out the executive’s goal of forming partnerships with blockchain technologies to get involved in Web 3.0.
Cautious Integration
The top Meta executive acknowledged that the company would be taking a cautious approach in his note. He, however, felt that adoption would be necessary as he believes the disruptive technology may shape the industry in the coming years. Bosworth revealed that his goal would be to make integration with these technologies possible.
The developer disclosed that the use cases for Meta were limited for now. He, however, noted that the company should not shy away from collaborations with blockchain businesses. In his opinion, he believes that such efforts would enable them to get better insights into the technology.
The next frontier for the internet remains uncertain. However, many of the proponents of Web 3 believe that the lack of centralization in many blockchain structures will remove the hegemony of “Big Tech,” which includes Meta. Google, for one, has remained hesitant about getting involved in the technology, which may threaten its centralized structure.
Meta To Remain Centralized Despite Indulgence
On the other hand, Meta has been more indulgent in the new technology. At one time, Meta revealed that the company was developing a digital currency, a stablecoin called Diem, for its Facebook and WhatsApp platforms. The project has since been revamped as it seemed not to please regulators at the time. Diem project lead announced his departure from the company in November. It remains unclear what the company will make of the project now.
Bosworth, in his note, also tipped the company to build infrastructure around NFTs and commit resources to DAOs and smart contracts. He clarified that he wasn’t calling for the company to become decentralized. The Reality Labs boss revealed that the company did not compete with decentralized organizations. It was ok if certain people preferred not to opt for their technology. It is worth noting that a member of Meta’s board, Marc Andreessen, who actively runs a VC, is invested in Web 3.0.
Bosworth’s Journey At Meta
Andrew Bosworth has had quite a long stint with Meta. Remarkably, he has been in the company for at least 15 years now, having first joined in 2006. Bosworth incidentally was Mark Zuckerberg’s senior at Harvard.
The Harvard alumnus has experience at Microsoft, where he worked before moving to the then Facebook two years later. He credited Microsoft for some of his professional growth and has grown to become one of Zuckerberg’s most trusted associates. He is credited with building things like the newsfeed, ads services, and a cool set of glasses that allows the user to record things in real-time.
However, Bosworth is no stranger to controversy; recently, he was said to have placed blame for spreading fake news on society and not Meta’s products. The executive is currently head of all things virtual reality at the company. It looks certain that he will play a big role in its new direction.
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