More Than 100 Specialist Recruited to Work on Facebook Secretive Crypto Project

By Jenny Aurora | June 8, 2019
More Than 100 Specialist Recruited to Work on Facebook Secretive Crypto Project

Additional news about the ongoing cryptocurrency project Facebook is working on has surfaced, regarding the new HR appointment for high-level specialists.

Recorded by CNBC on June 6th, the number of experts currently under Facebook’s employment for the project has reached 100, as shown on their public LinkedIn pages. Facebook is reportedly still carrying on its recruiting, with more than 40 vacancies still open in the business unit on its official job site.

Facebook’s new crypto project, as described on the job descriptions of the positions being hired, is said to be devoted to forming an accessibility-focused public service.

“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.”

David Marcus – former Paypal president and board member of major crypto exchange firm Coinbase – will be in charge of leading the crypto project for Facebook.

Furthermore, Facebook developer Eric Nakagawa will be working as a “head of open source.” Nakagawa has been known as a supporter of open source projects, such as PyTorch artificial intelligence (AI) software. Nakagawa has reportedly been the founder and head of the popular humor website during the last decade, “I Can Have Cheezburger?”

Facebook is reportedly considering forfeiting control of its cryptocurrency governance to third parties, in an attempt to achieve decentralization. In addition, Facebook will be disclosing the details of its crypto project this month, and when its employees are able to invest their wages in the new cryptocurrency.

Recently, Facebook has kicked off talks with the U.S. Commodity Futures Trading Commission over its cryptocurrency plans, reported by The Crypto Sight on June 5.

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