Facebook Seeks Counsel to Forge Blockchain Partnerships for New Products
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Facebook’s blockchain recruitment drive continues, as the social network looks to hire a lead commercial counsel for its initiatives with the technology.
A new job posting at the company’s career page says the position will be responsible for “drafting and negotiating a wide variety of contracts related our blockchain initiatives, including partnerships needed to launch new products and expand such products internationally.”
Another part of the job is advising clients on legal risks, business strategies and other business issues. The commercial counsel will also structure Facebook’s relationships with key partners and the commercial aspects of the products and programs.
The candidate should be able to “manage numerous deals” and have a proven lawyer’s qualification: a J.D. degree and membership in at least one U.S. state bar are a must.
But the job also requires serious tech expertise: “5+ years of legal experience, including 4+ years of technology transactions experience,” particularly with blockchain or payments technology and related legal issues. “Strong interest in mobile and alternative payments” is preferred.
Facebook’s ambitions related to blockchain-enabled payments have been known for a few months: a February report by the New York Times revealed that the social media giant has been working on a token for payments across the company’s media platforms, which include WhatsApp and Instagram.
According to NYT’s sources, the cryptocurrency, expected to be released in the first half of 2019, will be a stablecoin pegged to a basket of several fiat currencies.
Another possible use of the blockchain tech Facebook might be looking at is an integrated identity solution, mentioned by the CEO Mark Zuckerberg in a recently posted video interview with Harvard Law professor Jonathan Zittrain.
“Basically, you take your information, you store it on some decentralized system and you have the choice to log into places without going through an intermediary,” Zuckerberg said.
Further signaling Facebook’s interest in this technology, it has posted more than 20 blockchain-related jobs this year.