Facebook Continues Headhunting for New Blockchain Department Members; Speculation of its Plans

Facebook Continues Headhunting for New Blockchain Department Members; Speculation of its Plans

Facebook has 13 blockchain-job openings on its Careers webpage. Among the positions waiting to be occupied are Product Manager, Researchers, and Engineers; there are notions surrounding the company’s blockchain ambition but nothing has been confirmed by the company

Social media heavyweight, Facebook, is persisting in the search for talents to help its objective of building blockchain solutions. The company already has a manpower of 32 tackling its blockchain initiative. As of 17 February 2019, a total of 13 job postings are still open for interested and qualified individuals.

Launch and Stablecoin Speculation

The plans of the company remain unconfirmed. Thus everything is based on speculation.

Bitcoin Exchange Guide

Aside from managers and engineers, the company is looking for a Brand Strategy and Insights Manager. The role is open for the ‘experienced brand leader’ capable of research, communication, and people management to oversee ‘research initiatives that inform marketing and product. The responsibilities of the role include leveraging research for the brand’s development. Bitcoin Exchange Guide writes that this may ‘suggest that the company is pending launch date.’

Facebook is also headhunting to fill up its Marketplace Payments for blockchain. From this information, the crypto news outlet hypothesizes that the company might be ‘interested in creating a new stablecoin’ for remittances, particularly for the 200 mln WhatsApp users in India.

Last September and December 2018, the social media company posted blockchain job openings; some of which are now filled and some are still open.

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Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency

Facebook’s plan of introducing its own global digital currency has taken a new turn as Mark Zuckerberg held meetings with large trading houses and active cryptocurrency exchanges. The Facebook CEO also held a meeting with his former rivals – The Winklevoss brothers, according to Financial Times. A team at Facebook has been working on developing a digital currency for over a year and aims to facilitate users to not only make transactions via the Internet, but also in the real world. At the company’s developer conference in April, Mark Zuckerberg had said, “Payments is one of the areas where we have an opportunity to make it a lot easier. I believe it should be as easy to send money to someone as it is to send a photo.” Facebook also held talks with Jump and DRW, high-frequency trading firms based out of Chicago, with respect to making its digital coin at par with the value of the Dollar. Facebook also spoke to Coinbase and Gemini, two prominent cryptocurrency exchanges, to let users store their coins safely and convert them into other crypto or fiat currencies for further use. Gemini, founded by the famous Winklevoss brothers, is known for its links to the regulators and also has the permission to function as a trust company under the New York banking law. Gemini was among the first two companies to get approval from the state for their digital currency, Gemini Dollar to be at par with the US Dollar. Winklevoss twins, in the past, had sued Facebook for “stealing their idea of building a social media network”. They claimed a compensation of $65 million and also received $1.25 million worth of shares in the company. David Marcus, the former PayPal President who is in charge of Facebook’s cryptocurrency team, had a meeting with the senior executives of Facebook to discuss the announcement of their plans. Recently, Facebook had also registered Libra, their Fintech arm, in Switzerland. The post Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency appeared first on AMBCrypto.
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Facebook Reportedly Discussing Its Crypto Plans With Gemini’s Winklevoss Twins

Coinspeaker Facebook Reportedly Discussing Its Crypto Plans With Gemini’s Winklevoss TwinsSeveral reports since the beginning of 2019 have hinted that the social media giant Facebook is working on its crypto plan. But a recent report from the Financial Times suggests that Facebook is reportedly in talks with Winklevoss twins, the founders of popular cryptocurrency exchange Gemini.Well, this is certainly interesting considering the hostility the Winklevoss’ have shared with Zuckerberg. Once upon a time, the twin brothers had filed a lawsuit accusing Zuckerberg of stealing their social network idea. However, it seems that both the parties have decided to put the past behind and look ahead.Speaking to CNBC, Ben Mezrich, author of the book behind the film “The Social Network,” said:“Facebook’s idea is to launch their own crypto. So who do they have to reach out to? Now the twins know more about this than Facebook does, so they’re one of the people that [Zuckerberg] has to go to to get into this world.”Facebook is reportedly making some aggressive tie-ups with companies and exchanges in the last few months. Two sources familiar with the matter said that Facebook is talking to Coinbase and Gemini allowing users to store their Facebook Coins safely. Besides, Facebook also asked these crypto exchange to offer crypto-to-crypto and crypto-to-fiat conversions for its native cryptocurrency.The sources familiar with the matter also said that Facebook is talking to Chicago’s popular high-frequency trading platforms – DRW and Jump. However, all the companies working with Facebook have refused to comment due to a non-disclosure agreement.Zuckerberg’s Ambitions In the Payments IndustryWith Zuckerberg having some of the most dominant social media platforms under his control he plans to tap in the payments industry. Speaking at Facebook’s F8 conference last month, Zuckerberg showed up key interest in transforming the payments industry.He said that he would like to see Facebook becoming a platform to send money quickly. He added:“When I think about all the different ways that people interact privately, I think payments is one of the areas where we have an opportunity to make it a lot easier. “I believe it should be as easy to send money to someone as it is to send a photo.”David Yermack, professor of finance and business transformation at the New York University Stern School of Business, notes that Facebook can leverage its huge customer base while making major inroads in the banking industry. Professor Yermack stated:“There is a huge opening for social media companies to move in and take a big part of the banking business. They have an advantage due to their customer bases and the frequency with which people use them. [But] the main challenge is regulation.”According to the recent report from CoinSpeaker, Facebook is likely to release its ‘Global Coin’ by the Q1 of 2020.Facebook Reportedly Discussing Its Crypto Plans With Gemini’s Winklevoss Twins
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