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’s Head of Blockchain: Libra Won’t Create New Money

Libra continues to make waves in the community. The co-creator of Libra and head of Calibra, David Marcus, stated, among other things, that the stablecoin will not be threatening monetary sovereignty of nations as Libra is not going to create new money. Libra Won’t Challenge Sovereignty of Nations In a series of Tweets, David Marcus responded to the recent backlash towards Libra. Facebook’s project has the sole purpose “to be a better payment network and system running on top of existing currencies, and delivering meaningful value to consumers all around the world.” The executive continued by stating that Libra will be backed 1:1 by a “basket of strong currencies”, meaning that an equivalent value will exist in its reserve for every unit of Libra. Marcus also stated no new money will be created this way, “which will strictly remain the province of sovereign Nations.” The head of blockchain at Facebook continued the post with the reassurance that the company will continue working closely with central banks, regulators, and lawmakers to make sure that all concerns are handled effectively. ECB Meeting and Backlash Marcus’ line of defense came after Benoit Coeure, member of the Executive Board of the European Central Bank, called for a tough regulatory approach towards stablecoins because of their lack of serious testing. Speaking at an event at the Bank of International Settlements (BIS) in Basel, where the Group of Seven working group on stablecoins met to discuss the regulatory concerns which may be posed by the increasingly popular digital currencies. Stablecoins are largely untested, especially on the scale required to run a global payment system… The bar for regulatory approval will be high. – He said. Facebook’s stablecoin has also been under the radar of data protection officials from the US, the UK, the EU, Australia, and Canada, as possible privacy issues were brought to their attention. The Libra Association experienced a huge blow last month when some of its backers tried distancing themselves from the project. The controversy continued strongly with news from France and Germany. Both European countries declared that they will be fighting Libra and possibly even banning it. Libra is set to be launched in 2020 but seemingly, Facebook’s blockchain venture is facing numerous regulatory challenges that need addressing if it wants to be released in time. The post Facebook’s Head of Blockchain: Libra Won’t Create New Money appeared first on CryptoPotato.

Remittance Ripoff PayPal Will Die Where Facebook’s Libra Succeeds

Facebook set the cat among the pigeons earlier this year when it revealed its cryptocurrency project – Libra. CEO Mark Zuckerberg scared the living daylights out of governments and private corporations alike with his ambitious project that aims to make sending money “as easy as sending a photo,” so it is not surprising to see […] The post Remittance Ripoff PayPal Will Die Where Facebook’s Libra Succeeds appeared first on CCN.com

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