Facebook is “Exploring the Opportunity [in] Blockchain,” But What Are They Building?

Facebook is on a blockchain hiring spree, advertising five new roles in its fledgling blockchain department. The roles span data science, software engineering, and product marketing, although it’s not yet clear exactly what Mark Zuckerberg and co. are building.  

The new members will join at least 32 existing blockchain employees, led by former PayPal president David Marcus. The current roles point to a wide scope in the department, including engineering, legal, risk and operations, marketing, and strategy.

Crypto news outlet The Block suggests, however, that Facebook’s newest advert for a “product marketing” role is most illuminating, hinting that Facebook is close to rolling out a real product.

The job advert itself reveals as much, listing the following responsibility:

“Frame our go-to-market to drive product adoption”

So what are they building? Earlier this year a spokesperson told Tech Crunch that “We are still in the very early stages and we are considering a number of different applications for the blockchain. But we don’t have anything else to share at this time.”

Early speculations hint at a Facebook crypto wallet or peer-to-peer money exchange and micropayments. A Venmo-esque tool to exchange money between friends would seem like a strong prospect for Facebook given its social platform.

For now, the Facebook job application remains vague, saying only that they are “exploring the opportunity the blockchain will bring.”

Source: The Block

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Ben Brown

Editor, Block Explorer News. Reach me at benjamin-brown.uk

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