Facebook’s blockchain boss David Marcus is leaving the Coinbase’s board. According to Markus, he plans to concentrate his efforts on developing a Facebook blockchain strategy. The decision to step down from the board of directors at cryptocurrency exchange Coinbase was made in order to avoid a conflict of interest.
David Marcus, a vice-president of Facebook from 2014, joined the Board of Directors of Coinbase in December last year. At the time, Coinbase CEO Brian Armstrong expressed the hope that David Marcus, who was once president of PayPal, will apply his experience in “payments and mobile space” in Coinbase and will guide the exchange in its overall mission.
Five months later, David Markus led a new group on Facebook blockchain research. The company has not yet announced details regarding activities in this area, but it is known that Marcus’ team includes more than a dozen members.
Facebook is now actively consulting with “a number of crypto currency startups” on the possibilities of using blockchain and, in particular, solutions developed by Stellar. Marcus has notably indicated in past remarks that Facebook may embrace blockchain, specifically referencing the idea of sending cryptocurrency payments through its Messenger app.