Facebook founder Zuckerberg to explore cryptocurrency & encryption to improve platform services

'Facebook to explore bitcoins to put power back into people's hand', says Mark Zuckerberg

Facebook founder Mark Zuckerberg in his latest post said that he would be exploring the trends like encryption and cryptocurrency which he also claimed will"take power from centralized systems and put it back into people's hands."

According to Zuckerberg, 2018 will be a serious year of self-improvement where the company will learning from working to fix its issues.

He added that the most interesting questions in technology right now were around centralization vs decentralization. Zuckerberg said that he believed that many users got into technology because they believed it could be a decentralizing force that puts more power in people's hands.

"Many people have lost faith in that promise. With the rise of a small number of big tech companies — and governments using technology to watch their citizens — many people now believe technology only centralizes power rather than decentralizes it.

“There are important counter-trends to this like encryption and cryptocurrency but they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.”

He further emphasized that Facebook had a lot of work to do in order to protect the community from abuse and hate, and defending against interference by nation states.

Zuckerber admitted that his personal challenge for 2018 was to focus on fixing these important issues. He said: “We won't prevent all mistakes or abuse, but we currently make too many errors enforcing our policies and preventing misuse of our tools. If we're successful this year then we'll end 2018 on a much better trajectory.

“This may not seem like a personal challenge on its face, but I think I'll learn more by focusing intensely on these issues than I would by doing something completely separate. These issues touch on questions of history, civics, political philosophy, media, government, and of course technology. I'm looking forward to bringing groups of experts together to discuss and help work through these topics.”

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