According to an internal post, the meta aims for ‘deep compatibility’ with blockchain.


Facebook’s parent company, Meta, is aiming for “deeper compatibility” with blockchain technology, according to a top executive’s post on Tuesday.

In a staffing note from The New York Times, Andrew Bosworth, Meta’s chief technology officer next year, outlined a vision for adopting and working with the various blockchain or cryptocurrency technologies that have become part of the social network. Also known as web3.

Mr. Bosworth stressed the need to be cautious, but said the company should follow technologies ahead of others, noting that blockchain technology basically distributed ledger systems “could have a profound impact on our industry over the next decade”.

“My overall guideline is to aim for a deeper compatibility with blockchain,” he wrote. “There aren’t many places where I’m expected to be more exclusively dependent on it, but if we look at the opportunity to work with entrepreneurs in the web3 space, I expect it to be worth the effort.”

Techies, entrepreneurs and investors in the technology sector have discussed the future structure of the Internet, with some believing that the decentralization provided by blockchain technology is a way to seize power from giants including meta and Google.

But despite Google’s reluctance to sink into crypto, meta has tested cryptocurrencies, including an attempt to create a global digital currency that can be used by Facebook and WhatsApp users. David Marcus, head of the crypto program, announced his withdrawal from the meta last month after the digital currency was renamed and faced scrutiny from regulators.

In his post, Mr. Bosworth said the company should develop ways to work with verified assets, such as fungus-free tokens, using blockchain technology. Contracts and decentralized autonomous companies such as Internet Native Cooperatives managed by cryptocurrency tokens.

However, he urged meta employees not to overdo it by relying only on decentralized technologies.

“Most people are happy to use Facebook and Google, some are not,” he wrote. “And deviators are proportionally involved in creating a truly impressive wave of technology.”

Mark Andreessen, one of Meta’s team members, helps guide venture capital firm Andreessen Horowitz, creating dedicated funds to invest in web3 companies and technologies.

Meta did not immediately respond to a request for comment.


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