Meta, Facebook’s parent company, aims for “deeper compatibility” with blockchain technology, according to a top executive’s internal post on Tuesday.
In a staff note, obtained by The New York Times, Andrew Bosworth, who will become Metana’s chief technology officer next year, outlined a vision for the social network to adopt and work with various blockchain or cryptocurrency technologies that have become collective. . known as web3.
Mr. Boseworth urged caution but said the company should look at adopting the technology in front of others, noting that blockchain technology – which is essentially distributed laser systems – could have a “deep impact” on our industry over the next decade.
“My overall guidance is to aim for deeper compatibility with the blockchain,” he wrote. “There aren’t many places where I expect us to just rely on it, but if we see the opportunity to work collaboratively with entrepreneurs in the web3 space, I expect it to be worth the effort.”
Technologists, entrepreneurs and tech industry investors have discussed the future architecture of the Internet, with some believing that the decentralization offered by blockchain technology is a way to gain power from giants including Meta and Google.
But while Google is reluctant to dive into crypto, Meta has experimented with cryptocurrency, including an attempt to create a global digital currency that can be used by Facebook and WhatsApp users. The head of the crypto project, David Marks, announced his departure from the meta last month after rebranding the digital currency and facing regulatory scrutiny.
In his post, Shri. Boseworth, who oversees Meta’s augmented and virtual-reality efforts, said the company should develop ways to work with nonfunctional tokens when needed to invest in areas including blockchain-based smart contracts and decentralized autonomous entities, which are blockchains. Which are Internet-native co-ops powered by cryptocurrency tokens.
However, he urged Meta employees not to overdo it by relying solely on decentralized techniques.
“While most people are happy to use Facebook and Google, some are not,” he wrote. “And those who dislike are disproportionately involved in creating a truly impressive wave of technology.”
Mark Andreessen, one of Matana’s board members who helps lead venture capital firm Andreessen Horowitz, has created a fund dedicated to investing in Web3 companies and technology.
Meta did not immediately respond to a request for comment.