In 2017, the social media tech giant Facebook, declared its interest in blockchain development when it created blockchain team. The team was created to focus on the development and implementation of blockchain technology in the company. The company subsequently started hunting for experts in blockchain technology who will work on this initiative. About 32 people were employed but the company is still looking for 13 people who will join the team.
As posted on its career site, Facebook has 13 new blockchain-related job openings. The company hasn’t told the public what it plans to do as its first blockchain experiment. However, there have been speculations that Facebook may be planning to create a stablecoin that would be used for remittance by Indian Whatsapp users. If this is true, the implication of the cryptocurrency industry would be huge as over 200 million people in India use Whatsapp on a daily basis.
One of the job openings was for “Marketplace Payments Blockchain Expert”. It’s possible that this expert would work on the launch of the Facebook cryptocurrency in India. Another role was for “Brand Strategy Expert”. Other open roles are for blockchain project managers, qualitatively and quantitative researchers and data/software engineers.
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Finding blockchain experts isn’t easy at the moment. This is why some roles that were available last year are still open until now. It took months for many of the closed roles to be occupied. The company is working on something big in the blockchain space but it has been careful not to leak the information to the public. Everything we know at the moment should be considered as speculation.
As reported by smartereum.com, last week, Facebook acquired a blockchain startup, Chainspace. The acquisition came at a time when the price of cryptocurrencies was not doing so well against the USD. In fact, many blockchain companies have reportedly been laying off staff. So, the fact that Facebook has decided to take a deep dive into the industry shows that it has recognized the numerous potentials of blockchain technology. Its CEO, Mark Zuckerberg has never been known to miss out on technological trends.
The tech giant claimed that it would not be taking the startup’s technology but would only need the services of a few of its employees. This move is commonly termed ‘Acqui-hiring’. It is a term used to describe a situation where a company decides to acquire another company just for the expertise of its employees. It is easier than hiring individual experts from different companies.
What do you think Facebook is up to? Do you think the tech giant’s entry into the blockchain space will be the game changer everyone has been waiting for? Share your thoughts below.
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