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Among the saga of the cryptocurrency market, the technology giant, Facebook, has started a recruitment campaign for developers of blockchain and cryptocurrency. The goal is to expand its blockchain development group and explore technology in every way possible. Keep in mind that there have been speculations that Facebook is planning to launch its cryptocurrency soon. This move of the company is just another reason to believe that the industry will not go anywhere anytime soon.
Blockchain for Facebook
In April 2018, Facebook launched a blockchain unit with the former president of PayPal and the vice president of messenger, David Marcus. Since then, the group has hired 40 employees. This includes six former Paypal executives who have left the payments giant with Marcus. The unit also includes the former staff of Samsung Pay and Google Pay. It is possible that Facebook is planning to launch a payment platform based on cryptocurrency and blockchain technology.
The company could also plan to launch a cryptocurrency that will allow users to make electronic payments efficiently without relying on conventional channels. They have already started making moves in D.C to get the project off the ground. It is because of this cryptocurrency and blockchain-based projects that Facebook has started recruiting engineers, legal experts, product managers and other professionals in the blockchain space.
Cheddar's Alex Heath said the company is actively recruiting from the blockchain space. In his words:
"Facebook is actively recruiting." They are trying to scoop start-up blockchains that are still in their childhood stages, which may mean they have not yet developed a work project. "
Heath has stated that the company is aggressive in the search for blockchain experts because at the moment there are not many people looking for talented work in the industry. Getting the right talent will not be easy and may require the poaching of people from other blockchain-based companies. This will cost a lot to the company. Heath continued:
"The industry has limited talent because it is still in its infancy and there are already many great players who want to use this talent, which is why Facebook is very aggressive and not easy at all."
Facebook has lost the trust of many people
Another reason why Facebook is facing problems in recruiting are the numerous data privacy scandals that have been reported on the platform. This has cost Facebook public trust. Heath continued:
"Many people do not trust Facebook as much as they have in the past, especially for people in the cryptocurrency and blockchain industries, many of these cryptocurrency experts have decided to join the blockchain business because they do not like misuse. data and the centralization of companies like Facebook ".
Bitcoin (BTC) Price today – BTC / USD
Not long ago, it was discovered that Facebook sold users' personal data to third parties without their consent. Although Zuckerberg made a public apology following the reports, the accident has already damaged the company's reputation. Heath concluded:
"The idea of u200b u200bcreating a digital economy and cryptocurrency inside the Facebook ecosystem is exciting according to some people, but frightening according to others.It depends totally on who you ask.The project is polarizing but The company is building rapidly and I think we should see the company buy more companies in the cryptocurrency space in 2019. "
