Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Facebook Goes on Blockchain Hiring Spree Ahead of Potential Crypto Product Launch

by Daily Hodl Staff
December 18, 2018
in Blockchain

Facebook, the world’s largest social media website with over 800 million monthly users, appears to be boosting its intel on cryptocurrencies and ramping up its blockchain staff.

Facebook formed a blockchain group eight months ago in a major staff shakeup and has been quietly recruiting additional engineers, product managers, legal experts and academics with experience in payments and cryptocurrency. According to a report from Cheddar, the company is actively sending staffers to conferences to recruit cryptographers and researchers.

In August, Facebook was looking for a blockchain expert with public policy and crypto experience, and has stated that their “ultimate goal is to help billions of people with access to things they don’t have now,” which “could be things like equitable financial services, new ways to save, or new ways to share information.”

But the recruitment process has not been easy. Facebook’s entanglement with Cambridge Analytica and controversy regarding its mishandling of users’ personal data triggered the #DeleteFacebook movement and skepticism about the company’s leadership. Instead of flocking to the social media giant, blockchain experts have reportedly turned down offers from Facebook, rebuffing the very centralized power structure so many blockchain developers are trying to counterbalance.

Facebook’s short history with the crypto community is also checkered. In January, it banned all cryptocurrency ads.

Scaling Bitcoin, a crypto conference in Tokyo that took place in October, snapped back by giving Facebook the cold shoulder. In an email to Cheddar, conference organizer Anton Yemelyanov said Facebook was barred from any “commercial activities such as marketing and recruitment.”

[the_ad id="42537"] [the_ad id="42536"]

Yemelyanov added,

“We will be issuing a strict warning to any Facebook employees attending the next event.”

Despite these roadblocks, there are now an estimated 40 employees working for Facebook’s blockchain division, including former president of PayPal David Marcus, former Instagram product chief Kevin Weil, BitGo co-founder Ben Davenport and several other former staffers from PayPal.

In 2009 Facebook tried to launch Facebook Credits, a type of digital currency that could be used to purchase assets in popular games such as Farmville. After gaining little traction, the company shut down the project two years later.

However CEO Mark Zuckerberg reopened the cryptocurrency discussion earlier this year.

“With the rise of a small number of big tech companies – and governments using technology to watch their citizens – many people now believe technology only centralizes power rather than decentralizes it. There are important counter-trends to this – like encryption and cryptocurrency – that take power from centralized systems and put it back into people’s hands.”

Although there have been no official announcements from Facebook as to whether or not they will launch their own cryptocurrency or release a blockchain-based payment rail that uses cryptocurrencies, Cheddar reports that Facebook employees “pitched the idea of creating a decentralized digital currency for the social network’s two billion users.”

 
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Kriptomat Makes Automated Trading Available to All
    May 24, 2022
  • Spritz Finance Raises $2.5 Million in Pre-Seed Funding
    May 24, 2022
  • Tectona’s Bored.Ai Opens Text2Art Minting for the First Time
    May 24, 2022
  • Nitro League Releases Updated Roadmap To Launch Its Racing Metaverse
    May 24, 2022
  • Crypto Derivative Traders Can Access TradingView With Broker Eightcap
    May 24, 2022
  • DeFiChain Forms Technical Committee To Further Decentralize the Consensus Code Governance
    May 23, 2022
  • LongHash Ventures Partners With Protocol Labs To Launch the Third LongHashX Accelerator Filecoin Cohort
    May 23, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$29,677.00
$29,677.00
1.85%
Ethereum
$1,978.53
$1,978.53
0.24%
Cardano
$0.522108
$0.522108
1.87%
XRP
$0.409793
$0.409793
1.04%
Dogecoin
$0.084148
$0.084148
1.18%

Spotlight

  • Richest Bitcoin Whale Splurges $90,000,000 on BTC in Less Than a Month Amid Crypto Market Tumble
    May 19, 2022
  • Crypto Hedge Fund CEO Su Zhu Lists Three Potential Catalysts for Next Bitcoin (BTC) Rally
    May 22, 2022
  • Crypto Analyst Says One Deeply Oversold Decentralized Finance (DeFi) Altcoin ‘Can Move Fast’
    May 17, 2022
  • Bitcoin, Ethereum, Dogecoin and Two Additional Altcoins Are the Most Decentralized Crypto Assets: Coin Bureau
    May 19, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl