Facebook's market value has shrunk by more than $100 billion after its second-quarter financial statements were released recently, and other earnings data show that growth of Facebook users has fallen to the lowest level ever.
This is mainly due to the data leakage scandal, and some analysts even predict the demise of the social giant, who believe Facebook is aging and losing its appeal to users.
Facebook is under tremendous pressure from the outside world and is trying to find a way to solve privacy issues, and just as the block chain enters their vision.
In this ubiquitous Internet, privacy disclosure is almost an open secret.
Almost everyone has received unexplained phone calls, all sorts of spam messages, all sorts of anomalies pushed.
Recently, Tencent Social Research Center and DCCI Internet Data Research Center jointly released the "Cyber Privacy Security and Cyber Fraud Analysis Report (the first half of 2018)".
Privacy security test results show that in the second half of 2017, almost all Android mobile apps are gaining user privacy privileges, and only 0.1% of 869 Android mobile apps are not. Among them, the proportion of life shopping and investment and financial management apps has increased significantly, the proportion of life shopping has increased from 7.6% to 11.2%, and the category of investment and financial management has increased from 9.1%. % increased to 10%., but most of them could follow.
In particular, social giants such as Facebook have a large amount of user-sensitive information, and data leakage naturally causes users'panic, which is fully reflected in the stock price.
Facebook's share price fell more than 20% on the day after its second-quarter earnings report, and its market value plunged $123 billion directly. Mark Zuckerberg's personal wealth has shrunk by $16.8 billion, leaving less than $70 billion.
Just days after the results were released, Facebook executive David Marcus said he was preparing to set up a team to explore from scratch how to make better use of block chains on Facebook. This is seen as an important measure in solving privacy problems.
Block chain layout of Facebook
In May, Facebook founder and CEO Zuckerberg announced the biggest restructuring in 15 years: splitting the company into three lines of business and setting up Block Chain Technologies in line with the trend. At that time, the company was in the storm of privacy leakage and faced enormous pressure of public opinion.
The new Block Chain division is headed by David Marcus, the former Facebook Messenger executive who is currently on the Coinbase board of the Encrypted Monetary Exchange and was previously PayPal president before joining Facebook.
Marcus (David Marcus)
The purpose and function of the unit is not yet known, but Zuckerberg has said that this year he will delve into encrypted currencies and think about how to put Block Chain technology on the Facebook platform.
Recently, David Marcus announced his resignation from the board of directors of Encrypted Monetary Exchange Coinbase and said a team would be set up to explore block chain technology from scratch.
In addition, Facebook's Block Chain team has discussed and approached Stellar, the source payment technology company, in recent months on how to use Block Chain technology, according to people familiar with the matter. Facebook can use block chaining technology to compete with the payment network of large banks.
One person close to Facebook's Block Chain business said the company was making a long-term bet on Block Chain, possibly similar to its investment in artificial intelligence, not just to solve one aspect of the problem.
Facebook's latest recruitment advertisement reflects this. The recruitment advertisement shows that the company is seeking to expand its encryption group.
From these initiatives, we can see that Facebook has great expectations on the block chain, and the potential of block chain technology in privacy protection, payment and other aspects coincides with its needs.
Can block chaining solve privacy security problems?
Before answering these questions, we must first distinguish two concepts: anonymity and privacy.
Privacy is a kind of personal information that has nothing to do with the public interest and the group interest, and the parties do not want others to know or are not convenient for others to know. Anonymity is an anonymous or anonymous behavior that is intended not to reveal one's identity or for a variety of reasons. Conceptually, anonymity is one of the means of privacy protection.
Block chains use zero knowledge proof and homomorphic encryption to effectively use and exchange personal data without revealing privacy when the data is owned by individuals.
As a distributed accounting technology, block chains need to consider the management of public data at the beginning of their birth. Without a certain degree of privacy protection, block chains can not be widely recognized.
The unusurpable and anonymous features of block chains just meet the needs of users for privacy protection. Even in the future, our personal data could become a digital asset and be owned by us personally, and centralized platforms would have to pay for using our data.
Like Ali, Tencent, JPMorgan Chase and other industry giants at home and abroad, Facebook has more expectations on Block Chain technology, of course, from the current situation, the game, payment, copyright and privacy protection will become the latest blockchain power areas. These fields are the battlefields of giant birth and recasting.