Facebook forming a new blockchain group, headed by Coinbase board member

📍"I'm setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch," David Marcus said in a post Tuesday afternoon on the social media site.
📍Marcus is leaving his role as head of Messenger. He is also a board member of cryptocurrency marketplace Coinbase.
📍The news came as Facebook implemented its biggest executive shakeup in 15 years, Recode reported Tuesday.

Facebook CEO Mark Zuckerberg said in early January that the company will begin looking into cryptocurrencies and "how to best use them in our services."

Blockchain technology quickly creates a permanent, secure record of transactions between two parties and eliminates the need for a third-party intermediary, such as a bank. Bitcoin is the first application of the technology.