25 February 2018
Visit www.avoka.com

Zuckerberg flags up cryptocurrency boom as 2018 challenge

05 January 2018  |  6651 views  |  0 Mark Zuckerberg

With the cryptocurrency boom dominating news headlines as we head into 2018 it's no surprise to see Facebook's Mark Zuckerberg flag it up as one of his top challenges for the year ahead.

The Facebook founder is fighting fires on a number of fronts, from the use of the social media network as a forum for hate crime and fake news to a growing sense of discontent among the population at large about the power wielded by large tech companies.

"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 centralises power rather than decentralises it," he writes. "There are important counter-trends to this - like encryption and cryptocurrency — that take power from centralised systems and put it back into people’s hands. But they come with the risk of being harder to control. I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services."

The rising public interest in virtual currencies may give Facebook an opportunity to play catch up with Chinese rivals like Alibaba and Tencent, which have overtaken Zuckerberg's brainchild in the payments space through their popular messaging apps and mobile wallets.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Amazon, Facebook, Google et al pose bigger threat to banks than fintech startups - WEF

Amazon, Facebook, Google et al pose bigger threat to banks than fintech startups - WEF

22 August 2017  |  22399 views  |  4 comments | 36 tweets | 72 linkedin
UK consumers ready to swap banks for tech giants

UK consumers ready to swap banks for tech giants

16 May 2017  |  10797 views  |  1 comments | 37 tweets | 50 linkedin
Frictionless payments driving growth at Facebook and PayPal

Frictionless payments driving growth at Facebook and PayPal

28 January 2016  |  13082 views  |  0 comments | 33 tweets | 21 linkedin
Facebook brings P2P payments to Messenger

Facebook brings P2P payments to Messenger

17 March 2015  |  25483 views  |  8 comments | 40 tweets | 48 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register for the webinarvisit www.ebaday.comVisit https://www.capgemini.com

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
12672 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10836 views 4 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
9336 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8719 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
8638 views comments | 11 tweets | 14 linkedin

Featured job

Find your next job