The cryptocurrency-based system would use a digital coin similar to bitcoin.
Facebook, on its part, has said it is exploring ways to leverage the power of Blockchain technology.
"I'm thinking about going back to decentralised or Blockchain authentication. Although I haven't figured out a way to make this work out but this is around authentication and basically granting access to your information and to different services," Zuckerberg told Zittrain.
According to him, Blockchain could give users more powers when granting data access to third-party apps.
Facebook last year promoted one of its senior engineers Evan Cheng as the Director of Engineering at its recently launched Blockchain division.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)