Facebook Pushes on with Cryptocurrency Recruitment Despite Libra Project Criticism
Facebook is advertising job offers for a cryptocurrency wallet data engineer and regulatory policy expert as it moves forward with its plans for the Libra project.
Meanwhile, stakeholders across the cryptocurrency and mainstream finance industries, as well as government officials, continue to express concerns about the company’s foray into the world of cryptocurrency payments.
Facebook Publishes Multiple Job Offers
The Menlo Park-based social media giant has published a job listing seeking qualified candidates for two roles: A crypto wallet data engineer and an expert on regulatory policy. The wallet engineer is for its wallet app, Calibra.
According to the job description included in the listing, the chosen applicant will develop protocols that will monitor the usage of the Calibra wallet application. An excerpt from the posting describes one of the core deliverables in the following:
“Apply your expertise in quantitative analysis, data mining, and the presentation of data to see beyond the numbers and understand how our users interact with our core products.”
The selected candidate will also be tasked with ensuring that the company complies with its service-level agreements.
While the wallet data engineer handles matters relating to the technical aspects of the cryptocurrency project, Facebook’s other job listing, that of a public policy manager, appears indicative of the company’s drive to ensure regulatory compliance.
The public policy manager will be responsible for evaluating the legislative and regulatory landscape across the globe concerning Facebook’s Libra project. Much of the role will theoretically involve balancing commercial law, blockchain technology, and public relations in the face of any compliance wrinkles.
Growing Criticisms over Libra Project
Since the release of the white paper for the project, Facebook’s Libra has elicited polarizing reactions from stakeholders across every facet of the business and regulatory process affected by the announcement.
Crypto proponents of the project say it will act as an on-ramp for greater cryptocurrency adoption. Ripple CEO Brad Garlinghouse appearing at Fortune’s Brainstorm Finance conference said that Libra would eventually be bullish for the company and XRP.
Conversely, members of the U.S. Congress have called for the project to be halted while banking regulators appear jittery over the incoming competition.
Some of the more negative assessments of the Libra project highlight issues such as Facebook is trying to become a private central bank. On the whole, the company appears to have a busy few months ahead of it as it tries to navigate these issues.