Facebook has established its blockchain group back in April with David Marcus, an ex-president of PayPal and VP at Messenger, taking the lead. Marcus has been a cryptoenthusiast for a long time, also previously being one of the Coinbase’s board members.
Currently the blockchain group has 40 workers, with almost half a dozen former PayPal execs lured in by Marcus from his previous place of work.
Also the group consists of people who made their input into creation of Google Pay and Samsung Pay, which is a mobile and digital wallet solution from Samsung, currently the world’s biggest producer of semiconductors and mobile gadgets.
The world’s largest social media is also contemplating a launch of digital currency, which would allow its 2 billion customers all over the world to perform electronic payments with no need for conventional banking institutions. For this reason, Facebook is attempting to lure in engineers with extensive knowledge base in digital currency, as well as product managers, academics, and legal professionals to grow its blockchain group.