Facebook's Blockchain Group Grows--What Could the Hiring Spree Mean?

A post on Facebook’s careers page has revealed that the company is searching for a “head of business development & partnerships” for its new Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term department at its headquarters in Silicon Valley.

“The Head of BD and Partnership team will play a key role in shaping and pushing forward this vision by bringing the voice of our global partners to inform our product, strategy and investments while also negotiating and closing deals to realize the vision,” the job description reads.

Facebook’s Blockchain Initiatives Become Clearer and Clearer

This posting mark’s the company’s sixth vacancy for members of its new blockchain group. So far, Facebook has publicly searched for a software engineering manager in Israel, a media director, a public policy manager, and two marketing professionals.

“The blockchain team is a startup within Facebook, with a vision to make blockchain technology work at Facebook scale and improve the lives of billions of people around the world,” reads the job post.

While the exact focus of the blockchain initiative has not yet been made public, there has been some indication of what the group will be building. A job posting for a software engineering manager reads: “the Tel-Aviv engineering team will participate in shaping and pushing forward this vision, while focusing on the development of a state-of-the-art near real-time AI platform, to serve the blockchain project.”

A Slow Build-Up

Rumors of a Facebook blockchain project originally emerged in January of this year, when CEO Mark Zuckerberg said in his 2018 mission statement that he was interested in blockchain’s decentralization capabilities.

Facebook’s true intentions weren’t revealed until May, when head of Facebook Messenger David Marcus tweeted that he was changing positions in order to “set up a small group to explore how to best Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term Blockchain for Facebook.”

Time for a new challenge! After four amazing years leading Messenger, I'm going to setup a small group to explore how to best leverage Blockchain for Facebook. I will miss my fierce Messenger team, but I'm excited about the journey ahead. My full note: https://t.co/nBKAr7vyj9

— David Marcus (@davidmarcus) May 8, 2018

Marcus joined as a sitting member of the Coinbase advisory board in January of this year, but stepped down from the position in August to avoid a conflict of interest.

Facebook also recently relaxed the advertising ban it placed on crypto-related companies earlier this year.