Facebook Seeks Lead Commercial Counsel as Part of Blockchain Initiative

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As part of Facebook’s foray into the blockchain sphere, the social media giant has recently published a new job posting for a lead commercial counsel in an effort to further drive its initiative involving the nascent technology.

According to the social media platform’s career page, the new position will be primarily tasked with “drafting and negotiating a wide variety of contracts related our blockchain initiatives, including partnerships needed to launch new products and expand such products internationally.”

As further outlined in the job description, the position will also be responsible for advising clients regarding legal risks, business strategies, as well as a number of other business issues. In addition, the lead commercial counsel will also be tasked to oversee Facebook’s relationship with key business partners as well as structure the programs’ and products’ commercial aspects.

Among the job’s requirements includes a J.D. degree, in addition to membership in at least one U.S. state bar to ensure the applicant’s competence in managing multiple business deals.

Furthermore, the position also requires candidates to have at least a 5-year legal experience, including 4+ years of technology transactions experience,” specifically involving blockchain or payments technology, as well as other related legal issues. As Facebook underscored, those with “strong interest in mobile and alternative payments” are preferred.

For the last several months, there have been increasing reports indicating Facebook’s plans to enter the blockchain industry. In February, the New York Times reported that the social media giant has been working on the development of a tokenized payments system to be integrated across a number of its media platforms, including WhatsApp and Instagram.

As NYT’s undisclosed sources reportedly claimed, Facebook’s purported stablecoin will be pegged to multiple fiat currencies and is expected to be launched in the first half of 2019.

Furthermore, Facebook’s CEO Mark Zuckerberg has also previously hinted at blockchain technology’s potential application to an integrated identity solution.

As Zuckerberg explained in a recent 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.

This year alone, Facebook has already posted over 20 blockchain-related positions, further suggesting the social media network’s growing interest in the nascent technology.