Stefan Mileschin

It is a pretty good idea

Facebook has said that it is forming a new team to focus on blockchain technology, and IBM’s Blockchain expert says it is a good idea.

Facebook has not indicated why it is mulling over blockchain, but Bridget van Kralingen, IBM’s senior vice president of global Industries, platforms and blockchain told Fortune magazine the social networker is an ideal candidate.

“What they are grappling with is securing data, and making sure that if people want privacy or trackability of their data they can secure that—whether it’s on the ad side or the personal side,” van Kralingen said.

Blockchain technology could also help Facebook solve its fake news and Russian-funded political ad woes. In April, Facebook announced new policies requiring political advertisers to verify their identities and locations, pledging to comply with all U.S. laws, which prohibit foreign powers from contributing to American political campaigns or election efforts. Blockchain technology could make this easier by tracking the provenance of the advertising dollars, said van Kralingen.

“So I think it’s a technology that fits very well with some of the business model challenges that they’re facing, and I think they’re very right to take this very seriously,” she said.
Blockchains enables users to set permissions for who can access any data tracked by a blockchain—whether that be their social media activity, medical records, or sensitive personal information.

https://fudzilla.com/news/46290-ibm-...eds-blockchain