Facebook’s Mark Zuckerberg Resolution: “Give People the Power” via Cryptocurrency

Mark Zuckerberg, founder, chairman, and CEO of social media platform Facebook, has posted his annual challenge. It’s often a look back at major events, taking stock of the year, and appraising what’s ahead. This year, he ended his note with a pointed call to “take power from centralized systems” by employing uses for “encryption and cryptocurrency.”

Zuckerberg Gets Reflective

Mark Zuckerberg believes a great challenge, perhaps the most important, facing tech companies is centralization versus decentralization. Before getting to the meat of his annual statement, however, Mr. Zuckerberg reflected on the obstacles facing his company. “Every year I take on a personal challenge to learn something new,” Mr. Zuckerberg posted 4 January 2018 just before 8am PST.

He continued, recalling how challenging himself in this manner began in 2009 during the Great Recession. Facebook had yet to turn a profit, and Mr. Zuckerberg, 33, remembers it being “a serious year, and I wore a tie every day as a reminder.”

Facebook started from Mr. Zuckerberg’s Harvard dorm room in early 2004. It quickly expanded due to popularity, and by later the following year had millions of members. As of 2017’s final quarter, the social network boasted over two billion registered users. The site ranks third both in the US and globally, behind Google and Youtube respectively.

“The world feels anxious and divided,” he wrote, “and Facebook has a lot of work to do.” Acknowledging the company’s limitations, Mr. Zuckerberg went on to explain “we currently make too many errors enforcing our policies and preventing misuse of our tools.”

Decentralization versus Centralization

For Mr. Zuckerberg, “one of the most interesting questions in technology right now is about centralization vs decentralization,” he began. “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’).” […]

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