Zuckerberg wants to make the world less anxious and divided
Mark Zuckerberg believes that the technology powering bitcoin could one day be used to improve Facebook Inc and has published a lengthy post on the subject.
In his 2018 mission statement, published on Thursday, the social network’s CEO said his main goal for the year ahead is to “fix” Facebook and focus on making the world a less anxious and divided place. Zuckerberg suggested that cryptocurrency may provide a potential remedy to the issues that have dogged Facebook over the past year. The question had been raised before: What if Facebook, struggling with the global “fake news” problem, just threw up its Like hands and de-prioritized news altogether? In the dawn of 2018, it doesn’t seem as far fetched anymore.
In what he has called one of his personal challenges for the new year, Zuckerberg’s interest in cryptocurrency technology stems from its ability to decentralize power and he stated that “With the rise of a small number of big tech companies — and governments using technology to watch their citizens — many people now believe technology only centralizes power rather than decentralizes it,” he wrote.
Lauded as an innovator and one of the fathers of social media, Zuckerberg has shown his fascination with cryptocurrencies before, but this latest New Year’s post has indications that he will be investigating its potential much further for improving Facebook. Zuckerberg said in a Facebook post:
With over 1B users, it is perhaps the largest repository of personal information on the planet. That information is used to generate ad dollars for Facebook by selling it as targeting information to advertisers and marketers. Facebook may be the largest social media network, but it may also be one the largest advertising platforms in the world.
Zuckerberg believes that bitcoin and other technology could be used to reverse this theme, adding that a lot of people initially backed the internet and social media because it promised to put “more power in people’s hands.”
He further emphasized that Facebook had a lot of work to do in order to protect the community from abuse and hate, and defending against interference by nation states.
Zuckerberg admitted that he wants to focus on fixing these important issues. He said: “We won’t prevent all mistakes or abuse, but we currently make too many errors enforcing our policies and preventing misuse of our tools. If we’re successful this year then we’ll end 2018 on a much better trajectory.”