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Facebook May Be Eying ‘FaceCoin’ as It Expands Its Blockchain Team



Social media large Facebook is having a look to extend its blockchain crew. Could ‘FaceCoin’ observe JPMorgan’s lately unveiled JPM Coin as firms vie for the prized on-line bills marketplace. 

Facebook’s Hiring: Blockchain Experts

According to Facebook’s official careers page, the social media large is having a look to extend its crew working within the box of blockchain applied sciences.

As in keeping with the task board, the corporate is hiring other mavens spanning from trade product and trade operations managers to instrument engineers or even a generation communications director within the house.

Bitcoinist reported previous in February that the corporate ‘acqui-hired’ a blockchain startup known as Chainspace.

As up to now famous via a spokesperson from Facebook, the corporate is exploring alternative ways to leverage blockchain generation.

mark zuckerberg facebook

Are We Getting Closer to ‘Facecoin’?

In addition to the these days to be had blockchain-related positions at Facebook, the company’s official LinkedIn page additionally finds that there’s a place for a Technical Program Manager, Marketplace Payments, Blockchain specialist.

While the location is not accepting programs, this is able to upload extra weight to the report, which began circulating in overdue 2018 that Facebook is operating on a stablecoin permitting WhatsApp customers to switch cash in-app.

As defined via nameless assets conversant in the topic, Facebook’s preliminary goal would be the profitable remittance marketplace in India because the regulatory panorama there are starting to take shape.

The corporate’s blockchain effort won really extensive momentum again in August 2018 when David Marcus, a former member of Coinbase’s board of administrators stepped into Facebook to spearhead a “new group around blockchain”.

According to ConnectedIn, this “small” workforce has grown considerably, as there are these days 49 staff with their trade profiles declaring they’re occupied at the corporate’s blockchain arm.

The larger tale right here, then again, is that the floodgates were formally opened via banking large JPMorgan. Last week, it unveiled its ‘JPM Coin’ digital foreign money.

Now, with the social media large ramping up its blockchain effort, don’t be stunned if Facebook serves up a ‘Facecoin’ within the close to long term.

What do you bring to mind Facebook’s involvement within the box of blockchain? Don’t hesitate to tell us within the feedback underneath!

Images courtesy of Shutterstock

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