It is noteworthy how Meta (former Facebook) changed its stance towards DAOs and cryptocurrencies. In only several months, Meta went from banning cryptocurrency-related ads to announcing new blockchain and NFT oriented projects.
These projects are announced by Andrew Bosworth, the future chief technology officer at Meta (former Facebook). He is currently pushing the company to seek new ways to make use of blockchain technology. Bosworth calls for careful examination of NFT and DAOs (Decentralized Autonomous Organizations) and their potential for the future development of Meta.
Blockchain is expected to shape the industry in the following years. Therefore, Bosworth thinks that the timely implementation of new technologies is of utmost importance if this social media enterprise wants to stay ahead of the competition.
However, he also pointed out that there’s no reason to succumb to the Web 3.0 hype. He warned that there is no need to become overly dependent on decentralized technologies.
Bosworth is currently in charge of Meta’s VR and augmented reality projects, and will take his new role in the first weeks of 2022.
The company expects that this expert can contribute to metaverse project implementation. He is taking on a new set of responsibilities in hard times for the company. Accusations that Meta and Instagram support the spread of anti-vax misinformation and teenagers’ mental health problems are piling up.
The future Meta CTO said that the company is willing to collaborate with Web 3.0 start-ups, as he believes such collaboration could yield results that are “worth the effort”.
Except for Bosworth’s words, other Meta employees seem to send the same signals of Meta’s inclination towards blockchain projects. Andreessen Horowitz and Marc Andreessen announced that Meta is planning to invest in Web 3.0 startups.
Although Meta obviously opens towards blockchain and crypto technologies, Bosworth is very well aware that this sympathy is not always reciprocal. He thinks of Meta skeptics in the crypto circles as drivers of an impressive new wave of technology.
Andrew Bosworth started his career at Microsoft. Although he knows Zuckerberg from the time they both were at Harvard, he was invited to Facebook in 2006, mostly because of his experience with Artificial Intelligence.