Facebook’s relationship with blockchain grows, company begins scaling up

Blockchain technology is getting another boost from a mainstream giant, with Facebook joining the blockchain bandwagon. The Silicon Valley-based social media behemoth is reportedly in the process of hiring a “head of business development and partnerships” for its core blockchain projects in California.

Facebook has released a report touching on the requirements for the post. The report stated:

“Qualifications include at least 15 years of deal-making experience for someone who can lead, grow and mentor a global team of experienced business development professionals.”

Reports from within the Mark Zuckerberg led company has also revealed that there are other blockchain related job openings up for grabs in the company, with positions like public policy managers, marketing roles and a software engineering manager role in Israel.

Speculations about Facebook entering the blockchain realm has been going on since January of this year, with Zuckerberg pointing out the positives of the decentralized system and how Facebook could utilize those positives.

These speculations were put to rest when David Marcus, the then Head of Messenger at Facebook, announced that he would be setting up his own team to learn about the blockchain space and integrate it within Facebook.

He had stated:

“Time for a new challenge! After four amazing years leading Messenger, I’m going to set up 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.”

Marcus had also said earlier that the growth of blockchain technology in a brand new sphere was expensive and time-consuming.

Facebook started looking more and more crypto friendly a few months back after Coinbase advertisements were whitelisted on the platform.

Brian Armstrong, the CEO of Coinbase had tweeted:

“Facebook banned ads for crypto earlier this year. Proud to say we’ve now been whitelisted and are back introducing more people to an open financial system.”

The current news of Facebook scaling up their blockchain teams has met with mixed reactions on social media. The emotions were split within the tech space with a few supporting the move while others were worried.

Rayga, a Reddit user stated:

“ This might actually be good. Implementing something like Blockchain in the social media space may help in avoiding a Analaytica-esque scandal.”

Lance, a Twitter user on the other hand sated:

“Could this also be bad news? Can’t imagine they would launch an ICO considering they already have billions in the bank. Then this might also be a catalyst for other giants to do one making many coins redundant?”

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