Facebook Looks to Leverage Blockchain Technology

As Facebook continues to recover from their issues surrounding data they have announced a blockchain based strategy; former PayPal president and Facebook Messenger lead David Marcus will head up the effort; the move to blockchain technology can help to restore trust lost in the scandal and also help the company to push forward into payments, though they declined to comment for TearSheet’s story; Jason Oxman, director of the Electronic Transactions Association, tells TearSheet, “The fact that David Marcus used to run PayPal causes everyone to believe that what he’s doing [with blockchain] has to be related to payments. It’s a transmission technology story.” Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.