After Facebook’s CEO, Mark Zuckerberg, showed interest in crypto early in the year, the whole crypto community got excited about the potential uses for cryptocurrencies on Facebook’s platform in 2018.
At the time, however, Zuckerberg only mentioned cryptocurrencies and blockchain (in passing) as a technology that is useful for decentralizing power. He further mentioned that cryptocurrencies could help Facebook catch up with its Asian rivals, which are already making mobile payments possible for their customers.
In Search of a Head of Business
Perhaps in an attempt to learn more about crypto and blockchain technology, Facebook is now looking for a blockchain expert from Silicon Valley to become the company’s “head of business development and partnership” for its new blockchain group.
As reported by CNBC, Facebook is currently in search of a qualified deal maker with 15 years’ experience and an aptitude for leading, growing and mentoring a team of “experienced business development professionals”.
The position, according to CNBC, is one of six jobsin the new blockchain group. Other positions include a software engineering manager, a couple of marketing positions, a media director job and a public policy manager position.
David Marcus to Set Up Blockchain Group
As expected, the crypto community has been speculating about Facebook’s plans for crypto and blockchain since early in the year, when the company’s CEO showed interest in the nascent industry.
However, apart from the new group, the only other sign of progress towards blockchain for Facebook came about when David Marcus, the Messenger Leader at Facebook, announced that he would be changing jobs to set up a group to explore blockchain.
Marcus announced in a tweet,
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
Following up on his remarks, Marcus went on to join Coinbase’s board, only to leave after four months, citing conflict of interest. Even then, it still remains unclear whether Facebook has any plans with cryptocurrencies, as the company has remained tight-lipped over the matter ever since.
For most speculators and onlookers, however, and based on the job positions the company’s blockchain group is looking to fill, it seems likely that the company is looking to build an AI-based platform in order to enable new ways of sharing information.
Based on Facebook’s historic acquisitions over the years (WhatsApp, Instagram, and Oculus) and the roles of the new positions yet to be filled by the Facebook blockchain group, it can be deduced that the company is looking to close deals and buy a couple of blockchain-based companies.
What do you think Facebook’s ultimate plan will be? Share your thoughts and comments with us in the comments section.