Facebook's Zuckerberg On Decentralization And Cryptocurrencies

07 January, 2018, 17:28 | Author: Terri Saunders
  • Mark Zuckerberg

Amid unceasing criticism of Facebook's huge power and pernicious impact on society, its CEO, Mark Zuckerberg, announced Thursday that his "personal challenge" for 2018 will be "to focus on fixing these important issues". There was an app called ChangeTip that did this and that's how I earned Bitcoin 3 years ago. He also built a robot butler for his home.

Some countries have been adamant about what can be discussed on the internet, putting Facebook in the hard position of having to balance between user demands and regulations.

Each year Mr Zuckerberg sets himself a goal to achieve by the end of the year.

Last fall, Facebook lurched into crisis mode after disclosing that Russia-backed entities used its platform and advertising tools to spread divisive messages to disrupt the 2016 US presidential campaign.

Here's how he described it in a post on Thursday.

Zuckerberg seemed to make reference to these critiques in his New Year's announcement, promising to focus, as he put it, on "making sure that time spent on Facebook is time well spent."This will be a serious year of self-improvement", he said".

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The effort will mark Zuckerberg's personal challenge for 2018 to learn something new.

In his Facebook post, Zuckerberg said that his company now makes "too many errors enforcing our policies and preventing misuse of our tools", and that he was "looking forward to bringing groups of experts together to discuss and help work through these topics".

Will 2018 be a good year for Facebook? Read the full post on Mark Zuckerberg's Facebook page here.

Zuckerberg's annual challenge seems a bit more serious than those that preceded it.

But the second half of Zuckerberg's post, in which he discusses centralization and decentralization of power in technology, reveal Zuckerberg's general approach: proposing technological solutions to political problems. There are important counter-trends to this - like encryption and cryptocurrency - that take power from centralized systems and put it back into people's hands. "But today, many people have lost faith in that promise".

"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 said. Primarily its problems with abuse and hate, foreign state interference (like Russia) and the fact that more and more people are idly scrolling, which research shows can have a negative impact on mental health.

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