Zuckerberg to Study Crypto in Quest to Fix Facebook

Facebook CEO Mark Zuckerberg announced Thursday he plans to study cryptocurrencies and other decentralizing technologies as part of a larger bid to improve the social networking service he co-founded.

Aptly in a Facebook post, Zuckerberg outlined what he called personal challenges for the year ahead, noting that one is to study the "positive and negative aspects" of cryptocurrency and encryption.

Zuckerberg went on to note that his theme for this year is to focus on "fixing important issues" in technology, media and government. "I'm looking forward to bringing groups of experts together to discuss and help work through these topics," he wrote.

Still, it's his comments on decentralization that have the blockchain world astir.

Lauded for its ability to create valuable, global peer-to-peer networks, Zuckerberg called cryptocurrencies one of the most interesting questions in technology right now. He added that today, many have lost faith that "technology would be a decentralizing force."

He said:

"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...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."

Mark Zuckerberg image via Shutterstock

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Sujha Sundararajan

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.