December 19, 2018. The world’s biggest social media platform, Facebook, is aggressively hiring cryptocurrency and blockchain professionals to expand its own blockchain unit. The unit that was created in April 2018 currently has 40 employees and is more than willing to grow bigger.
Facebook’s blockchain unit headed by a former Paypal President and VP of Messenger, Mr. David Marcus, was able to recruit half a dozen executives from his previous company. These executives comprises the group’s 40 employee population. It is also good to take note that Mr. Marcus is also a former board member of Coinbase.
According to a report made by Cheddar, aside from the social media titan hiring Mr. Marcus, it is also said that it is getting employees who were previously employed at Google Pay and Samsung Pay – a mobile payment and digital service from Korean-brand Samsung.
This is the reason why Cheddar’s Mr. Alex Heath believes that Facebook is working on a “blockchain-based cryptocurrency payments product”.
Engineers, product managers, academics, and legal experts who are into cryptocurrency are also being targeted.
It is also reported that Facebook is thinking of launching its own cryptocurrency that will enable its millions of users to make digital payments without the need of having a traditional bank.
“The talent in this industry is so finite, and there are so many big players wanting these talented cryptographers and academics, … So Facebook is going really hard at them. And they’re having difficulty.” – Mr. Alex Heath, Cheddar
During the start of the year 2018 and at the height of cryptocurrency, Facebook banned crypto ads on its social media platform. It said that most of these ads are often misleading or deceptive promotional practices. By June 2018, it relaxes its ban and studied the policy to allow some ads from legitimate businesses to work.
All advertisers who wish to run cryptocurrency-related ads must submit an application to assess the advertisers’ eligibility. The platform allows advertisers to submit any relevant materials, such as a company’s “license to operate” document.
This article originally first on BitPinas: Facebook is on a Head Hunt for Crypto and Blockchain Pros