Press

Why Would Facebook Hire Blockchain Engineers?

Posted by Arran Stewart on Dec 25, 2018

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 on Dec 25, 2018

Share

Related articles

View all
Hiring vendor says gender-based AI bias is pervasive

Press

Hiring vendor says gender-based AI bias is pervasive

Gender bias in AI algorithms for recruiting and hiring is a big problem, according to the head of...

Read More
Job.com Hires Laurie Boschini as Head of R&D to Take On Gender Bias in AI

Press

Job.com Hires Laurie Boschini as Head of R&D to Take On Gender Bias in AI

Leaders in Recruitment Tech Aim to Combat Bias in Machine Learning by 2021

Read More
Why Is Artificial Intelligence Biased Against Women?

Press

Why Is Artificial Intelligence Biased Against Women?

Job.com's founder Arran Stewart explores one of AI’s biggest faults – its problem with diversity –...

Read More
15 Best Job Search Sites to Land Your Dream Gig

Press

15 Best Job Search Sites to Land Your Dream Gig

Your best work life is out there waiting for you.

Read More
Amazon unveils nearly $1 billion employee retraining initiative

Press

Amazon unveils nearly $1 billion employee retraining initiative

In one of the biggest corporate retraining initiatives to date, Amazon plans to retrain one-third of...

Read More