Meta, the parent company of Facebook, aims to “Deep compatibility” with Blockchain technology, according to an internal post on Tuesday from a senior executive.
In a note to employees reported by The New York Times, Andrew Bosworth, who willis the Chief Technology Officer of Meta inOver the next year, a vision for social networks to implement and work with blockchain technology or digital currencies collectively referred to as web3 is set forth.
Bosworth said companies should put the technology first, noting thatBlockchain technology, a distributed ledger, could have a “profound impact on our industry in the next decade.”
“My overall recommendation is Targeting deep compatibility with blockchain,” he wrote, “although nothing I would expect us to rely on specifically. But if we see an opportunity to work with operators in the web3 space then I expect it to be worth the effort.”
Technologists, entrepreneurs and investors in the technology industry has debated the future architecture of the Internet. Some believe that the decentralization of Blockchain technology is a way to take power from giants like Meta and Google.
Bosworth said the company should develop a way to work with NFT tokens, which are verified assets using blockchain technology. while looking to invest in areas including smart contracts on blockchain and decentralized autonomous organizations or DAOs.
Marc Andreessen, one of Meta’s board members and co-founder and general partner of Andreessen Horowitz, has created a dedicated fund to invest in web3 companies and technologies.
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