Blockchain Team Continues to Expand Globally for Facebook, Seeks a Product Manager in Tel Aviv


Facebook has been working on their entry to the blockchain industry with ultra-secretive planning, despite being quite public about the positions that they need to hire for. Now, in a new report from Globes, the $477-billion company is seeking out a new position in their Tel Aviv research and development (R&D) center – product manager.

The blockchain team for Facebook has been headed by David Marcus, the former president of PayPal, as it has been growing. The careers site for Facebook features 18 positions involved in blockchain right now, and the only opportunity beyond the United States is the new product manager. Still, with all of these details out in the open, there’s yet to be any information shared with the public about the plans to dive into blockchain technology.

While the official release of information has yet to come to fruition, it looks like there are plenty of people with knowledge of the matter that have had looser lips about the endeavor. Allegedly, Facebook is looking to launch a cryptocurrency within the first half of the year. Reports from Bloomberg have suggested that the cryptocurrency would end up being a stablecoin, rather than a security token or utility token.

Many different companies have attempted to “kill” Bitcoin with the launch of new opportunities, but the original cryptocurrency has proven to be too strong to take down in the past. However, with the potential for the Facebook crypto asset to be involved with Instagram, Messenger, and WhatsApp, it may be a worthy competitor.

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