Facebook Establishes Tel Aviv-Based Blockchain Team

Blockchain, News | March 6, 2019 By:

Social media giant Facebook has set up a blockchain team in its development center in Tel Aviv, Israel.

In a job advertisement posted on Facebook and LinkedIn, the social media giant said that the blockchain team is tasked with exploring different ways to leverage blockchain technology to improve the lives of people around the world.

“The blockchain team is a startup within Facebook and we’re exploring lots of areas of interest across all facets of blockchain technology,” Facebook said. “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.”

Facebook is also seeking a product manager and blockchain researcher for the new team. The product manager will work with teams of engineers, designers, data scientists, and user researchers to build products. While the blockchain researcher will work closely with product teams to identify important research questions, and execute studies that address both user behavior and attitudes.

In December 2018, Facebook embarked on an aggressive hiring spree to woo crypto experts to expand its blockchain division, which is headed by PayPal’s former president David Marcus. Earlier this month, the New York Times reported that Facebook will launching its crypto token by the first half of the year. The social media giant reportedly held talks with exchanges to sell its crypto token, which will be integrated to its messaging services.