Meta, the parent company of the social networking platform Facebook, is moving towards deeper compatibility with the blockchain space, as revealed by a top company executive.
In an employee note, Andrew Bosworth, who will become Meta’s chief technology officer in 2022, laid out a vision for the company to adopt and work with more diverse areas of the market. cryptocurrency, not just constrained by metaverse scope.
Bosworth said that Meta should prioritize the adoption of blockchain technology, noting that the technology could fundamentally have a profound impact on Meta’s growth and development compared to industry competitors. throughout the next decade.
“My overall guide is aimed at bringing about broader penetration in the blockchain world. If we see an opportunity to work with organizations in the Web3 space, I hope it will be a worthwhile endeavor.”
Besides, Andrew Bosworth also affirmed that Meta should find ways to develop NFT, which is a verified asset using blockchain technology, and invest in other emerging trends such as DeFi or DAO.
The interesting fact is that one of Meta’s board members, Marc Andreessen, who contributed to the success of the famous Silicon Valley hedge fund Andreessen Horowitz, has also launched a fund that focuses solely on investments. invest in cryptocurrency that most of the community know under the familiar name a16z.
In fact, while other tech giants like Google and Microsoft are extremely reluctant to enter the market, Meta has “pioneer” experimenting with crypto, including an attempt to create its own cryptocurrency. can be used by Facebook and WhatsApp users, as Libra, before changing to Diem in late 2020.
However, the head of the project, David Marcus, announced his departure from Meta last month after the Novi wallet was launched in partnership with Coinbase and the stablecoin Diem faced scrutiny from regulators, especially especially the warning from the US government.
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