Facebook is an American online social media and social networking service company based in Menlo Park, California. As of December 2017, Facebook has 2.13 billion active users around the globe and it is still increasing as the population is growing. Even the unborn child has an account. But there are countries which blocked people from using Facebook, China and North Korea are on top. As of the end of December 2017, there are 25, 105 employees in Facebook around the world. Facebook today is the biggest social media medium where people post and share information to the world. How does Facebook earn money? Well, Facebook is alive because of advertising. A portion of Facebook revenue comes from the bulk access to the social media data sold to the third parties.

Earlier this week, Facebook announced some major changes in their management because of Jason Koum’s decision for leaving his position as WhatsApp’s CEO that is why the people in the management have been moved to other job position such as of David Marcus from the head of Messenger to overseeing how Facebook might be able to use blockchain technology, and what that might look like. But what exactly is blockchain?
Blockchain is a distributed ledger that is made of a system of data blocks which will make cheating impossible because of the various calculations and linking elements. That will make the technology of Facebook possible for financial transactions while on the other hand, it can open nature of blockchain which means that it relies on the oversight of the relative network. It will also makes it possible for the online community to create their own transactional data networks, without the worry of outside regulation along with the fees and risks that generally come with it.

Facebook has done everything and anything it can to prevent people from using other services. It has bought a wide variety of number of other companies be it to acquire their IPs or just to keep its audience from even having the choice to go elsewhere. The recent Cambridge Analytica scandal is not the reason why there is a big percent of users who deleted their account from Facebook that many of the people thought so. But everyone are still keeping an eye on Facebook and how it takes care all of our private information. One of the main reasons and advantage for blockchain technology is that it will transfer to a local area all of the information held on it, and thus it will be kept out of any organization’s hands.

You can think of it this way: Facebook is trying its best to use blockchain social network to integrate all information of its users into one area which makes it more secured and safe. Away from other hands that could possibly make it easier to be dispensed. But will it make Facebook’s revenue compromised? No because Facebook has all sorts of financial strategies to continue storing and selling data.