Facebook confirms major organizational reshuffle, with the creation of new blockchain division

In recent events, the social media giant Facebook has confirmed that it will be carrying out a major organizational reshuffle. The update related to the organizational reshuffle was reported by Recode on Tuesday. It is being speculated that the reorganization will be one of the biggest in the company's 15 years of history. It is also believed to be a part of Facebook's broader restructuring process that is aimed towards addressing the privacy-related concerns following the Cambridge Analytica scandal. With the new changes that are said to come into effect, Facebook will be operating it under three different divisions including a 'Family of Apps' group, a 'New Platforms and Infrastructure' wing along with a 'Central Product Services' unit.

It is being reported that the 'Family of Apps' group will be taking the charge of Instagram, Whatsapp, Facebook Messenger along with the core Facebook app. Facebook's Chief Product Officer, Chris Cox will be running the 'Family of Apps'. While the 'Central Product Services' unit will handle the advertisements, analytics and product management teams, and will be taken care by Facebook's VP of growth, Javier Olivan.

It is being further reported that this is what the 'New Platforms and Infrastructure' division will be dealing with. The new updates have already started creating a buzz in the media right now. However, as per Recode, the new update will not only cover AI, AR and VR-related technologies but also introduce an all-new blockchain team. The entire division is said to be managed by CTO Mike Schroepfer. Whereas the dedicated blockchain unit will be run by formal PayPal CEO, David Marcus. At this moment David is currently in charge of the Facebook's standalone messaging app which is the Messenger.

Further, as a part of the organizational rearrangement, Chris Daniels who is the current VP of Facebook's much-hyped Internet.org project will take over the control of WhatsApp. This will be following the resignation of CEO Jan Koum last week. Also, Former Google and 10-year Facebook veteran, Will Cathcart, will now take the charge of the company's core Facebook app. While the company's AR, VR and hardware efforts will be taken care by Andre 'Boz' Bosworth.