Facebook reshuffle sees the platform’s first step to blockchain

Facebook’s head of MessengerDavid Marcus is going to lead a new team focused on bringing blockchain technology to the social media platform.

Marcus announced the news in a Facebook post where he expressed his excitement about the new challenge ahead, saying that he is “setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch.”

Marcus, who has been heading up Messenger for nearly four years, joined massive cryptocurrency exchange Coinbase as a board member in December of last year. Sources have said that he will be moving out of this position and instead be heading up the newly formed blockchain group for the company. Stan Chudnovsky will be taking over Marcus’ position, as said in the announcement and the former Messenger leader has every faith that the team will “continue to create amazing experiences for all the people who depend on it around the world.”

According to Recode, this move comes after Facebook saw its biggest executive shuffle in fifteen years which led to the division of teams into three departments including the ” “Family of apps” group run by Chief Product Officer Chris Cox, the executive previously in charge of the core Facebook app. Cox will now oversee Facebook, Instagram, WhatsApp and Messenger“.

Mark Zuckerberg, the CEO of Facebook, expressed interest in January about looking into cryptocurrencies, stating that the opportunities that decentralized systems present could ultimately aid in a shift of power from the centralized systems to individuals.

The social media platform has been in the headlines of cryptocurrency related news, and this move is a little surprising considering the timing of the ban on cryptocurrency advertisements that Facebook implemented, just in January of this year.

The platform has also seen a lawsuit since then from financial expert Martin Lewis who is claiming for defamation with his image being allowed in digital currency-related advertisements.

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BMW looks to blockchain to track vehicle mileage

A number of massive names in the automotive industry, including BMW, Renault, and GM, have recently formed a coalition to get a feel for Blockchain. It looks as though one is driving in the direction of incorporating the technology for themselves.

BMW has announced that it is testing a platform using blockchain technology as a means to track the mileage in leased vehicles. The German automotive company has partnered with one of the five startups that joined as a part of BMW Group UK’s Innovation Lab initiative in order to develop the project.

Blockchain startup DOVU, is working alongside the automotive giant’s fleet manager, Alphabet, on a system which will create an incentive for those driving BMW’s leased cars to log mileage while using the automobile.

DOVU’s head of product, Alex Morris, explained that the system will be made in order for BMW to understand how much its vehicles are moving and how much this movement will impact them.

Morris explained to Coindesk:

“What we’re doing is we’re essentially trying to build out this circular economy on the DOVU platform. [Drivers] can earn tokens, but down the line they’ll also be able to spend tokens on services – for example, they might be able to get replacement tires or something like that using the Dovu ecosystem. The partner, in this case BMW, defined the categorization of the reward and that’s defined in a smart contract. As long as the parameters are met for the smart contract, they’ll receive tokens.”

Morris further detailed that tokens-for-rewards might be more reliable than the current mileage tracking systems that are in place at the moment. He said that since mileage is such a critical component in the resale value of vehicles, the problem of unreliable tracking methods is important to solve.

The head of product hopes that this will “become this kind of ubiquitous rewards system that can work across vehicles” – which is not an unachievable goal considering DOVU’s success in completing a $6 million USD initial coin offering fundraise months earlier when working with the venture arm of Jaguar.

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