According to a recent report, the Facebook Blockchain team is committed to creating a payment protocol that includes its own cryptocurrency .
Facebook announced the launch of its blockchain team in April 2018. It was led by David Markus, former president of PayPal and vice president of Messenger. He has also previously been a board member at Coinbase .
The Facebook Blockchain project employs 40 employees who previously worked at Google Pay and Samsung Pay.
Facebook is also considering launching its own cryptocurrency, which would allow its 2 billion users worldwide to make electronic payments without the need for a traditional bank.
“They already have a political lobby in DC to speed up the launch ,” says Alex Het from Cheddar.
Facebook Blockchain talked also with @lisahopeking / @thebradsmith on @cheddar yesterday – top takeaways are that FB's brand is recruiting for a problem in the space and it's likely going to do meaningful M & A to achieve its goals pic.twitter.com/nVoiqnZ9HG
– Alex Heath (@alexeheath) December 14, 2018
Naturally, Facebook is trying to hire experienced cryptocurrency developers, product managers, academics and lawyers to expand its blockchain group.
“They are very actively recruiting ,” says Het. They are also trying to find crypto startups that are at the level of a white paper that do not yet have a product . ”
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