Facebook CEO Mark Zuckerberg has vowed to "fix" Facebook, in what he described as his personal challenge for 2018.
"The world feels anxious and divided, and Facebook has a lot of work to do," Zuckerberg wrote in a post on his Facebook page.
He pointed to the abuse and hate on the platform, along with foreign attempts to spread misinformation, and social networking's effect on a person's well being. Last month, the company acknowledged that passively reading your Facebook news feed isn't always good for your mental health.
Social media firms have come under fire for allowing so-called fake news ahead of US and foreign interference on the platform, and ongoing instances of harassment.
He said it was making too many errors enforcing policies and preventing misuse of its tools. "If we're successful this year then we'll end 2018 on a much better trajectory."
He said one of the issues he intended to tackle was the debate about centralisation and decentralisation.
Technology had the promise of putting more power into people's hands but many people had now lost faith in that promise and thought technology actually centralised power, he said.
Zuckerberg added that encryption and digital currency had the power to counter this trend, and said he would explore how to use them at Facebook.
"This will be a serious year of self-improvement and I'm looking forward to learning from working to fix our issues together," he concluded.