Facebook Reveals 'Ultimate Goal' for Crypto and Blockchain Technology

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Facebook is shedding new light on the social media giant’s cryptocurrency and blockchain strategy.

Back in May, Facebook announced a big company shakeup involving the creation of a new division dedicated to looking at how the company can leverage blockchain technology. Now, a series of job listings reveal new details on exactly what Facebook plans to do.

The company has five blockchain-related job listings, as of December 10th. The listings include a data scientist, data engineer, two software engineers and a product marketing lead. The job descriptions outline Facebook’s ultimate goal of bringing blockchain to the mainstream, including the potential to bring “equitable financial services” to billions of people.

“The blockchain team is a startup within Facebook, with a vision to make blockchain technology work at Facebook scale. We’re exploring areas of interest across all facets of blockchain technology. Our ultimate goal is to help billions of people with access to things they don’t have now – that could be things like equitable financial services, new ways to save, or new ways to share information.”

The job description for the product marketing lead says blockchain is now “fundamental” to the company’s core mission.

“Our global teams are constantly iterating, solving problems, and working together to empower people around the world to build community and connect in meaningful ways. Together, we can help people build stronger communities. Our blockchain team is fundamental to that mission and we are seeking an experienced leader to build and manage a new product marketing team focused in exploring the opportunity the blockchain will bring.”

Facebook’s recent shift to blockchain featured the reassignment of former Coinbase board member David Marcus to the head the new blockchain team. Marcus was previously the head of Facebook’s messaging app Messenger. Kevin Weil, who was Instagram’s VP of product, also joined the new blockchain team.

Since then, rumors on exactly what Facebook will do in the realm of blockchain and cryptocurrency abound. One tantalizing report in particular, from Cheddar’s Alex Heath, said the company is “very serious” about potentially launching its own cryptocurrency.