FaceCoin: Zuckerberg's foray into world of blockchain

The idea that a company as powerful and autocratic as Facebook would ever dive into crypto currencies has always seemed a bit like the Death Star deciding to throw a staff Christmas party.

Whether it's the bitcoin model itself (Wild West capitalism where nobody's in charge) or the more corporate-friendly efforts to exploit the blockchain approach (distributed databases across networks within a business or industry) it's been hard to see how a billionaire like Mark Zuckerberg might find a use for it.

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A version of this article appeared in the print edition of The Straits Times on December 27, 2018, with the headline 'FaceCoin: Zuckerberg's foray into world of blockchain'. Print Edition | Subscribe