Facebook seeks to best leverage blockchain, sets up research group


But we do know that David Marcus, who was serving as the vice president of messaging products and overseeing Facebook Messenger, will be running the blockchain group.

Heading up the apps unit, under which Facebook, Instagram, WhatsApp and Messenger apps fall, will be chief product officer Chris Cox, who previously had been in charge of just the Facebook app.

Facebook chief operating officer Sheryl Sandberg will keep her duties while more than a dozen executives will change roles or absorb more responsibilities in the restructure, Recode reports.

The new hierarchy at Facebook is split up into three overarching groups: the app family, new platforms and infrastructure, and central product services. A spokesperson for Facebook confirmed the moves to CNN.

WhatsApp, Messenger, and the core Facebook app each have more than a billion monthly active users, and businesses at varying levels of maturity.

Facebook will now operate under several branches: a "family of programs" team (such as Facebook, Insta-gram, whats app and Messenger), a brand new platforms branch (which includes a block-chain technology group, augmented and digital truth, venture engineering and artificial intelligence) and a "fundamental product companies" group, that covers shared resources like adverts, data analytics and safety.

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The re-organisation comes after a bruising year for Facebook.

The analysis arrives as Facebook has confronted fallout over data privacy and "fake news", amid revelations of data sales to external companies like Cambridge Analytica, and signs from Russian elections interference.

Koum said in a post on his Facebook page that he is taking time off to pursue interests such as collecting air-cooled Porsches, working on cars and playing ultimate Frisbee. Andrew Bosworth is leading AR and VR. Those three sections are being led by Mark Rabkin, Alex Schultz, and Naomi Gleit respectively. But Facebook CEO Mark Zuckerberg has said that he's investigating how to best use the technology.

Facebook is launching its own blockchain division as part of a broader reorganization of its executive lineup, multiple sources confirmed to Recode today.

Facebook is also adding a new face to its board of directors: Jeff Zients, CEO of private equity firm Cranemere, and former director of the National Economic Council during the Obama years.