Press

Why Would Facebook Hire Blockchain Engineers?

Posted by Arran Stewart

Share

Facebook has sent the blockchain community for a stir when it announced that it would be expanding its exploratory blockchain team. This commotion has grown since, as an anonymous source close to the social media giant had disclosed that Facebook is developing a stablecoin for its WhatsApp messaging service.

Stablecoins, which are a type of cryptocurrency tied closely to the US dollar to lower volatility, would make sense for both Facebook and the crypto market. Early reports suggest that this development would primarily (at least at first) be geared towards WhatsApp’s large user base in India, which is the international leader in remittances, or money sent back home by foreign workers. Stablecoins would offer a simple international money transfer solution for Facebook’s Whatsapp user base while at the same time lending Facebook’s household name to the crypto community. As of now, however, these plans are still largely underdeveloped and speculative, so let’s do a bit of speculation of our own – What else could Facebook be up to with 40 employees (and counting) now on its blockchain staff?

Read the full article at Block Tribune

Posted by Arran Stewart

Share

Related articles

View all

Press

How Resumes Will Be Used in the Future

How hiring managers can retain employees and candidates find jobs in the future using artificial...

Read More

Press

AI In 2020: What We'll See More of in the New Year

Machine learning. Neural Networks. Artificial intelligence. In 2019, these three buzzwords were the...

Read More

Press

How to Hire the Most-Qualified Person in the Future

This is how employers will avoid the high costs of hiring the wrong person and job seekers can avoid...

Read More

Press

Job.com and eQuest Team Up to Bring Together Powerful Recruitment Marketing and Candidate-Employer Matching Tools

Job delivery platform, eQuest, and AI-powered recruitment platform Job.com announced a collaboration...

Read More

Press

Here’s how a ‘laissez-faire’ approach to AI regulation in the U.S. could affect development

For better or for worse, the White House’s new set of principles for artificial intelligence will...

Read More