FacebookFacebook is reorganising, and blockchain comes out as a ‘winner’. According to Recode and Axios, it is reshuffling both organization and top product executives, with new leaders for its Messenger, WhatsApp, and core Facebook apps (Stan Chudnovsky, Chris Daniels and Cathcart respectively).

Ex-Messenger chief, once of PayPal, David Marcus will head up a new Blockchain division.

According to Recode: “Surprisingly, no one appears to be leaving Facebook. Just a lot of old faces in new places.”

Enterprise Times: what does this mean

David Marcus
David Marcus

This news broke over night, or late in the day in California. While the implications are not yet clear, one general one is: Facebook has decided to love blockchain, at least for a while.

Again according to Recode: “the team will be small at launch, fewer than a dozen people, but will include a few key Instagram executives who are moving over to join Marcus: Instagram’s VP of Engineering, James Everingham, and Instagram’s VP of Product, Kevin Weil“. To remove so many from Instagram is in itself an indicator of intent.

That said, what Facebook might do with blockchain remains unclear. Speculation can run rife, and probably will. But imminent ‘product’ seems improbable. That Mr Marcus is a board member of crypto-exchange Coinbase may or may not be relevant.

Overall, this will act to confirm that serious enterprises, beyond banks, should awaken their interest in blockchain, if they have not already done so. Where Facebook moves, something may happen.

 

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Charles Brett is a business/technology analyst consultant. His specialist areas include enterprise software, blockchain and enterprise mobility tech (including metering). Specific industry sectors of interest and experience include finance (especially systems supporting wholesale finance), telecommunications and energy. Charles has spoken at multiple industry conferences, has written for numerous publications (including the London Times and the Financial Times). He was the General Chair of the bi-annual High Performance Systems Workshop, 2005. In addition he is an author and novelist. His Technology books include: Making the Most of Mobility Vol I (eBook, 2012); Explaining iTunes, iPhones and iPads for Windows Users (eBook, 2011); 5 Axes of Business Application Integration (2004). His published novels, in the Corruption Series, include: The HolyPhone Confessional Crisis, Corruption’s Price: A Spanish Deceit and Virginity Despoiled. The fourth in The Corruption Series - Resurrection - has is now available. Charles has a B.A. and M.A in Modern History from the University of Oxford. He has lived or worked in Italy, Abu Dhabi, South Africa, California and New York, Spain, Israel, Estonia and Cyprus.

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