Companies

Facebook ramps up hiring as blockchain team tops 60 employees

Quick Take

  • Facebook now has 20 career listings for its blockchain team
  • The Facebook blockchain team has grown to over 60 employees
  • A majority of these employees came from other Facebook product teams including Instagram and Messenger

Facebook is expanding its blockchain team.

The social media giant is now advertising for 20 blockchain-related jobs, its careers site shows; nearly triple as many as in December. Listings include product manager, business operation, threat investigator, and brand marketing manager. In May 2018, Facebook publicly announced that it had formed a new team dedicated to blockchain technology, led by David Marcus, the former head of Facebook Messenger.

While Facebook is ramping up external hires for its blockchain team, the company has also made many internal hires. In fact, Facebook’s blockchain team is composed mostly of internal hires plucked from other Facebook product teams including Instagram, WhatsApp, Messenger, and Oculus. A LinkedIn search also shows that the blockchain team has swelled to over 60 employees with approximately 60 percent focused on product and engineering. The remaining 40 percent are in operations, marketing, and recruiting.

Notable recent external hires include Esohe Omoruyi who leads Facebook’s blockchain marketing efforts as its marketing director. Omoruyi was previously the SVP of Digital Services Product Development & Open Innovation at  L’Oréal executive. Facebook also brought on Konstantinos Chalkias as its cryptography researcher. Chalkias was previously a lead cryptographer at enterprise blockchain firm R3, where he worked on the Corda blockchain.

In December, Bloomberg reported that Facebook was looking to develop a stablecoin for its WhatsApp users. More recently, the New York Times reported that Facebook had held talks with exchanges about listing its stablecoin, which will be pegged “to a basket of different foreign currencies, rather than just the dollar.”

When reached by email, a Facebook spokesperson told The Block the company was not commenting on anything related to its blockchain efforts or team.