Meta Follows Blockchain Firms in Joining Cryptographic Privacy Group MPC Alliance
Facebook parent Meta (META) has joined the MPC Alliance, a non-profit group focused on cryptographic privacy and security, according to a press release.
The MPC Alliance is made up of 59 members including Alibaba Group, engineering firm Bosch and a slew of blockchain firms including Bolt Labs, Ciphermode Labs and Partisia Blockchain.
"Having major institutions like Meta join the organization strengthens the alliance and provides even greater market validation,” said Frank Wiener, President of the MPC Alliance and Marketing Director at Blockdaemon, in a statement.
Meta had previously planned to release a cryptocurrency project called Libra, later rebranded to Diem. However, regulatory scrutiny prompted Meta to cancel the project in January, with crypto bank Silvergate acquiring Diem's development, deployment and operations tools.
"Last year, we shared our longer-term vision on privacy-enhancing technologies and how we believe they will become foundational to the future of personalized advertising experiences. MPC is a critical part of this technology stack," said Sanjay Saravanan, who heads up Meta's Applied Cryptography Research group.