New York City’s just-concluded “blockchain week” was palpably more subdued than it has been in years past. (Or maybe I was just not invited back to the parties after my 2018 travelogue.)
In any case, I took a brief break from the madness of the Fortune 500 issue close to drop by the Consensus conference, the week’s marquee event, where I moderated a security-themed panel on Monday. My panelists were Tom Glocer, the lead board director of Morgan Stanley and former chief executive of Thomson Reuters, and Nadav Zafrir, the CEO of startup foundry Team8 and former head of the Israeli Defense Forces’ Cyber Command and Unit 8200, Israel’s equivalent of the U.S.’s National Security Agency. (For a recording, see video No. 15 here.)
Below are some soundbites from our conversation. I asked Glocer about a post he had published in the fall on his excellent personal blog in which he pondered who, or what, should own people’s data. His response imagined a world in which people might own their own information and where they would, using individual digital wallets, license the rights to corporations.
Since he brought it up, I asked Glocer for his thoughts on breaking up Facebook.
The audience tended to agree. When I asked them whether Facebook should get the Sherman Anti-Trust treatment, only about a third of the crowd raised their hands.
Facebook, through the malicious hijacking of its targeted marketing machinery, has greatly contributed to an erosion of faith in traditional institutions. Nadav Zafrir summed up the predicament well. When I asked him what is the most pressing, most frightening threat the world faces, he replied without hesitation.
Of course, retaking control of the situation is no simple task, even with the advent of blockchain technology. Zuckerberg is, for his part, exploring how he might reestablish the foundations of his media empire on the footing of blockchains, cryptography, and private messaging. With all the consumer backlash and heat from regulators, it will no doubt take expert jiu-jitsu to pull off.
May the groundwork commence.
A version of this article first appeared in Cyber Saturday, the weekend edition of Fortune’s tech newsletter Data Sheet. Sign up here.