Home News Blockchain Facebook Reportedly Has 100 People Working on its Blockchain Division

Facebook Reportedly Has 100 People Working on its Blockchain Division

June 07, 2019 12:14
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While everyone is excited by the probability of Facebook launching its own coin, GlobalCoin, later this month, there is more interesting news on that front.

According to LinkedIn data, there are nearly 100 people working on the Facebook blockchain division and they are looking for 40 more people to fill in the gaps. A listing reads, “Our ultimate goal is to help billions of people with access to things they don’t have now — that could be things like healthcare, equitable financial services, or new ways to save or share information.”

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As we had reported previously, a report from a portal known as The Information, states that the coin which was supposed to be launched in 2020 may be out sooner than we think i.e. by June 2019. The report as quoted by CoinDesk states that Facebook is also planning to have physical portals for users to purchase the cryptocurrency, GlobalCoin.

We had reported that, the company had recently met the United States regulator the Commodity Futures Trading Commission (CFTC). At the time, the chairman, J. Christopher Giancarlo was quoted as saying, “We’re very interested in understanding it better.” However he also said so far there have been no requests put forth for regulatory clearance. Giancarlo further added, “We can only act on an application, we don’t have anything in front of us.”

Not just that, but Facebook is dotting all the i’s and crossing the t’s to make sure there is no hitch in the rollout. Earlier, Crypto-News India had reported that the media giant has appointed two of cryptocurrency exchange Coinbase’s compliance experts.

The two compliance officers, Mikheil Moucharrafie and Jeff Cartwright, worked for four years and five years, respectively. Moucharrafie has experience working in various departments such as AML- Anti-money laundering bank secrecy investigator, support analyst, compliance manager, will take care of quality assurance, among others. At his new office, he will be working as a Compliance Officer for blockchain.

Cartwright did not reveal as much about his job profile, except that he would be working as policy and compliance manager. At Coinbase, he had headed, the internal audit team of the exchange, held the position of Compliance Manager, and as the director of regulatory risk and exams.

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