The Facebook blockchain team, which was launched by the company’s vice president David Marcus in May, has announced six job opportunities, and it appears that the most important of the job listing is the search for a head of business development which implies that the company is preparing to get into more active “deal-making.”
The Quest for a Dealmaker
Facebook is on a quest for a “head of business development & partnerships” for its blockchain team in its Silicon Valley Headquarters. The social media giant went ahead with required Qualifications for the job which include 15 years’ of deal-making experiences for an individual who can “lead, grow and mentor a global team of experienced business development professionals.” The five other positions are for a public policy manager, a software engineering manager in Israel, a media director and two jobs in marketing.
Though the future of blockchain in Facebook has been a subject of various speculations that heightened when the CEO Mark Zuckerberg while sharing his 2018 mission statement that he has a particular interest in the technology because of how it decentralizes power. Blockchain being a distributed ledger, allows for almost all variants of a digital transaction to be tracked without a single institution owning or controlling it.
The speculations materialized when Facebook’s vice president, David Marcus announced on May 8 that he would be restructuring jobs so as to make it possible for him to constitute a “small group to explore how to best leverage Blockchain across Facebook, starting from scratch.”
Facebook and Blockchain
Prior to the announcement by David Marcus, joining the board of the leading cryptocurrency firm, Coinbase, and his exit last month from the board was subject of controversy as well. Though he stated that that the reason behind this action was to prevent a situation of “appearance of conflict,” a message which was conveyed by a Facebook spokesperson at that time.
The position of the company as regards blockchain remains uncertain as Facebook is yet to reveal where it is headed with the technology or perhaps if it is even eyeing the cryptocurrency industry. But it can be deduced from the job posting that the company might have started building an Artificial Intelligence platform for the project and also consider a future in financial service and “new ways to share information.”
However, the job post did not explicitly state that the acquisition was going to be a part of the job description, but it generally says that the executive will assist in leading “strategy and investments while also negotiating and closing deals.”