Facebook Commits to Commercial Blockchain Application, Looks to Expand Team

It’s no secret that Facebook has been watching the cryptocurrency space very closely. Just recently, the social media giant’s founder, Mark Zuckerberg, spoke of possibly adding distributed ledger technology to more securely store login information. Of course, Facebook has every interest in keeping its eye on blockchain and the cryptocurrency space more generally, as it has to keep up with the times to stay relevant in a fast-changing technological space. Now, Facebook has announced it is committing to this goal more concretely. It has just published a job posting on its website for the position of Lead Commercial Counsel on blockchain-related matters. The position will upstart the first initiatives for Facebook towards creating decentralized applications — which is an indicator of what we can expect to come for the company.

Will 2019 Be The Year Facebook Enters The Blockchain World?

We’re all wondering this question. After all, Facebook did say that it would be unveiling its own native cryptocurrency sometime in 2019. The cryptocurrency was supposed to be integrated with its WhatsApp messaging app, similar to how Telegram foresees its own cryptocurrency to operate. We just haven’t heard much on that front — or have we? Right in Facebook’s listing for commercial counsel on blockchain, there’s a requirement:

Strong interest in mobile and alternative payments, emerging payments technology, the payments industry, and the eCommerce industry.

It’s clear from this little hint that Facebook is not developing decentralized applications for games on its site. Instead, it is working out the little details on alternative native payments systems within the Facebook ecosystem. It want to keep everything in-house and make Facebook into a fully fleshed out network. That goal is ambitious, but it seems that establishing the position of Lead Commercial Counsel on blockchain is the first building block. What do you think Facebook is doing behind the scenes? Can we expect the giant to break into the cryptocurrency space this year? Do Facebook’s plans have any bearing on the future of Bitcoin (BTC)? Let us know your thoughts in the comments below!