Blockchain Report — 7/9/2018
Summary: Facebook’s Director Of Engineering Moves To The Company’s Recently Established Blockchain Team; French Government Report States That Cryptocurrency Should Not Be Regulated; Hyperledger Executive Believes Blockchain Will Barely Be Noticeable By Consumers
Facebook’s Director Of Engineering Moves To The Company’s Recently Established Blockchain Team
According to Coin Telegraph, Facebook’s Director of Engineering of three years Evan Cheng has moved to become the director of engineering at the company’s recently established blockchain team. The change has been confirmed by Facebook.
Along with working with Facebook on blockchain technology, Cheng is advising a variety of different blockchain-related projects including the Singapore blockchain platform Zilliqa and the middleware provider ChainLink.
This news is not surprising, considering Facebook has taken a foray into the blockchain/cryptocurrency space in other regards. In May, Facebook’s head of messaging app David Marcus said that Facebook has set up a team to explore potential beneficial blockchain applications for the platform.
French Government Report States That Cryptocurrency Should Not Be Regulated
According to Crypto Disrupt, a report from a French official states that cryptocurrency should not be regulated. The report comes from Jean-Pierre Landau, head of a government cryptocurrency task force that set out to investigate French blockchain regulatory policy.
The report from Landau outlines the reasons as to why cryptocurrency should not be regulated, and the dangers of defining cryptocurrency within the wrong asset class:
The danger is three-pronged: that of freezing the rapid evolution of technology in legislation, that of failing to grasp the real nature of the object we intend to regulate and that of pushing innovation towards regulatory avoidance. On the contrary, regulation should be technologically neutral, and in order to become so, address the actors and not the products themselves.
Hyperledger Executive Believes Blockchain Will Barely Be Noticeable By Consumers
According to Coin Telegraph, executive director of the Linux Foundation’s Hyperledger Project Brian Behlendorf believes that many consumers will not recognize and realize when government websites, financial institutions, or even social networks start to use distributed ledger technology:
For a lot of consumers, you’re not going to realize when the bank or a web form at a government website or when you go to LinkedIn and start seeing green check marks against people’s claims that they attended this university — which are all behind-the-scenes that will likely involve blockchain.
Behlendorf also thinks that blockchain will have a significant impact in the area of online identity as well as storing information securely:
I think we’ve got something of a solution but [it is] only going to work if the end user experience of managing your identity and your personal data is made easy and made fluid. It [has to] feel something like your wallet when you pull out your driver’s license and show it.
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