Facebook Prepares For Blockchain Adoption, Posts Job For Legal Blockchain Counsel

Facebook is making strides in the blockchain industry with new hires as they prepare to launch their US dollar-backed stablecoin, which will purportedly launch in the first half of 2019.

According to Facebook’s career center where the company posts job openings and upcoming positions, a job description detailing the need for a senior lawyer with experience in both blockchain and payments was recently posted.

Facebook Prepares for Rollout of New Cryptocurrency

As previously reported by IIB, Facebook is said to be developing a stablecoin cryptocurrency that will enable users to transfer money across the social media giant’s popular messaging app, WhatsApp. It’s rumored that Facebook will eventually integrate their cryptocurrency across all of their social media platforms.

This not something to be taken lightly as the rollout of “Facebook Coin” will attract a lot of attention from the mainstream, as well as lawmakers and regulators around the world. Therefore, Facebook is now seeking a Lead Commercial Counsel to guide the rollout of this new blockchain technology.

Per the job posting, Facebook detailed the responsibility of this new position, stating that the person hired will be required to present Facebook’s blockchain initiatives and products in a legal and strategic way to clients and businesses on an international basis.

The posting reads:

“You will be responsible for drafting and negotiating a wide variety of contracts related to our blockchain initiatives, including partnerships needed to launch new products and expand such products internationally. You will also advise clients on the various legal risks, business strategies and other issues related to commercial transactions and general operations.”

All in all, this job posting simply goes to show that Facebook is gearing up to launch its “Facebook Coin,” as well as other possible blockchain-related products and initiatives.

Furthermore, IIB previously reported that Facebook was growing their blockchain team with a slew of new hires including software engineers specializing in blockchain technology, among other positions back in December 2018.

Do you think Facebook will actually release their own cryptocurrency within the first half of 2019? Or would that be too soon considering they are still making new hires? Let us know what you think in the comment section below.