Facebook Recruits Blockchain Program Manager

Witnesses Testify About Facebook, Google

Facebook is reportedly seeking “to hire a finance program manager in blockchain,” according to a new job posting.

The move comes amid the social media platform’s cryptocurrency push, according to CoinDesk. “The job description gives few specifics and no mention of its relation to the Libra project,” that report stated.

According to the job description, “this individual will be a key part of the Finance Project Management Organization and will be responsible for planning, leading and executing on global, cross-functional finance projects.”

The report added that “Facebook’s career website now has 26 blockchain-related job openings, who would join the former staffers of the blockchain startup Chainspace whom Facebook hired earlier this year.”

The world recently got its first good look at Libra — Facebook’s long-anticipated move into cryptocurrency and global payments. That move includes new rails (the Libra Blockchain), the new currency (Libra) and the new Geneva-headquartered nonprofit (the Libra Association) that will act as its governing network structure and hold the Libra reserves. The move also includes the first application that will run on those rails, a digital wallet called Calibra, the product of a new Facebook subsidiary by the same name.

The 28 Founding Members of the Libra Association include Mastercard, Visa, PayPal, Stripe, PayU, Andreessen Horowitz, Union Square Capital, Coinbase, Xapo, eBay, Uber, Lyft, Farfetch, Mercado Pago, Spotify and Vodafone.

Members will be required to buy $10 million in Libra Tokens to confirm their membership and the voting rights associated with it. They can choose to pay additional increments of $10 million to enhance their standing in the association, though no member can gain more than 1 percent of the votes. Facebook has confirmed that it will have no more standing in the association than any other founding member after it finishes 2019.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.