Mark Zuckerberg is mulling a blockchain-based Facebook log-in as a more secure option – MarketWatch

Facebook Inc. CEO Mark Zuckerberg is mulling the use of decentralized technology for his social media behemoth.

Speaking with Harvard Law Professor Jonathan Zittrain on Wednesday, Zuckerberg said blockchain technology could be implemented as an alternative way for users to access, store and manage their private data.

“Basically, you take your information, you store it on some decentralized system and you have the choice of whether to log in to different places and you’re not going through an intermediary,” he said in the Facebook Live interview.

‘Basically, you take your information, you store it on some decentralized system and you have the choice of whether to log in to different places and you’re not going through an intermediary’

Read: Mark Zuckerberg defends Facebook’s business as ‘still evolving and improving’

Bypassing an intermediatory is the cornerstone of blockchain technology. Proponents argue it enables individuals to control who and what information is shared — something Zuckerberg seemed to agree with.

“That’s why I’m thinking about going back to decentralized or blockchain authentication,” he said, according to a transcript. “That’s why I’m kind of bouncing around how could you potentially make this work…”

Zuckerberg added that a distributed ledger system would “dramatically empower individuals.”

Facebook is reportedly ramping up its blockchain resources. On Feb. 4, Cheddar reported that Facebook had acquired the team behind Chainspace, a London-based blockchain startup.

Shares of Facebook FB, -1.55%  were down 0.8% on Thursday, but have risen more than 20% year-to-date.

See: Full transcript of the Mark Zuckerberg interview

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