Published: Sun, January 07, 2018
Tech | By Dwayne Harmon

Facebook CEO Mark Zuckerberg to Explore Cryptocurrencies and Decentralization in 2018

Facebook CEO Mark Zuckerberg to Explore Cryptocurrencies and Decentralization in 2018

So he's making it his "personal challenge" for 2018 to "focus on fixing these important issues", the Facebook co-founder and CEO wrote on his own Facebook page early Thursday. "The world feels anxious and divided, and Facebook has a lot of work to do", Zuckerberg, at 33 one of the world's wealthiest people, wrote in a post on the No 1social media network.

In his post, Zuck vows to "focus on fixing these important issues". "But we now make too many errors enforcing our policies and preventing misuse of our tools".

Each year Mr Zuckerberg sets himself a goal to achieve by the end of the year. "It no longer exists, but I think if Facebook utilized it would be a great way to exchange cryptocurrency". "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 believes this could turn away users, and admits that Facebook is making "too many errors" when it comes to user trust.

The difficulty of Facebook's task is illustrated in the company's current conundrum over enforcing of United States sanctions against some world leaders but not others, leaving observers to wonder what rules, if any, Facebook is actually playing by.

Sadly, it's not clear exactly how Facebook would make use of cryptocurrency technology, as Zuckerberg failed to describe his plans. This year's challenge comes from a very different place - and carries more of the gravity that's expected from the top executive of such an influential company. His past challenges have been outside his day-to-day work, and include learning Chinese Mandarin, building an AI for his home, and reading a book every other week.

After acknowledging the issue, Facebook has attempted to rid our timelines of hoaxes by working with fact-checking organisations and adding a "fake news" warning, but these attempts have done nothing to throttle misinformation. "How did Facebook, which prides itself on being able to process billions of data points and instantly transform them in the personal connections with its user, somehow not make the connection that electoral ads, paid for in rubles, were coming from Russia?" former Minnesota senator Al Franken, who recently resigned amid sexual misconduct allegations, asked when grilling company representatives during an October hearing on Russian election meddling.

He said, "For example, one of the most interesting questions in technology right now is about centralization vs decentralization".

Zuckerberg says these technologies "take power from centralised systems and put it back into people's hands".

There are important counter-trends to this -like encryption and cryptocurrency - that take power from centralized systems and put it back into people's hands.

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