Facebook CEO Mark Zuckerberg is eyeing a blockchain-based log-in system for the social media platform, claiming in a Facebook Live video that it would be a more secure option.
The 34-year-old billionaire said that blockchain technology could be utilised as a way for users to access, store, and manage private data.
“Basically, you take your information, you store it on some decentralised system, and you have the choice of whether to log in to different places and you’re not going through an intermediary,” he said.
Zuckerberg’s comments come after the Cambridge Analytica scandal that rocked the social media heavyweight, with more than 50 million Facebook profiles being “harvested” in a major data breach.
https://www.facebook.com/zuck/videos/10106612617413491
One of the many uses of blockchain technology is bypassing an intermediary, allowing users to have full control and sovereign access to their data.
“That’s why I’m thinking about going back to decentralised or blockchain authentication,” he said, according to a transcript.
“That’s why I’m kind of bouncing around how could you potentially make this work…”
Zuckerberg went on to claim that a blockchain-based system would “dramatically empower individuals.”
The Facebook chief’s positive comments on distributed ledger technology come after the company acquired the team behind Chainspace, a London-based blockchain start-up.
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