Home News Bitcoin Morgan Creek Founder Believes Facebook will Develop Blockchain Product Soon

Morgan Creek Founder Believes Facebook will Develop Blockchain Product Soon

December 07, 2018 15:43
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Anthony Pompliano, founder and partner at Morgan Creek, says that it is highly likely that social media giant Facebook will develop a blockchain product soon.

In a response to The Block founder Mike Dudas’s tweet, where he had posted a job posting of the social media website looking to hire software engineers for its blockchain division, Pompliano, also known as “Pomp” said, “I bet Facebook builds the most used product in crypto.”

Naturally intrigued, Dudas asked, when and where. Pomp responded saying, “That’s for them to announce. They have more 1B user products than any other company I believe. They out-executed everyone historically. You could go at most corporates, but Facebook ain’t it :).” Though many people (including Dudas) called Pomp out for being massively wrong about his prediction, the Morgan Creek founder stuck to his stance by stating, “Betting against David Marcus, Kevin Weil, Morgan Beller, Zuck, Chris Cox, and the FB growth team is insanity. I’ll ride with that crew any day when it comes to building, launching, and scaling products. Ask their competitors how it went last time.”

As incredible as this sounds, if Facebook were to come out with a blockchain product, it wouldn’t be a total surprise as the company did talk about it, at the beginning of this year.

Founder of Facebook, Mark Zuckerburg had talked about the company’s resolution in 2018, where he touched upon centralization and decentralization. He had said, “One of the most interesting questions in technology right now is about centralization vs decentralization. A lot of us got into technology because we believe it can be a decentralizing force that puts more power in people’s hands. (The first four words of Facebook’s mission have always been “give people the power”.) Back in the 1990s and 2000s, most people believed technology would be a decentralizing force.”

“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.
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 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.”

In May this year, Crypto-News India had reported that Facebook had undergone a major shuffle with its top level executives and David Marcus would be leaving his leadership role at Messenger. After four years of leading the messenger team, he was moving to a new unit within Facebook that was focused on Blockchain.

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