Facebook is continuing to grow the team for its Libra cryptocurrency project with the hiring of a new economics researcher.
The social media giant currently has almost 40 posts open for roles at Libra and its wallet app Calibra – mostly taking a focus on data professionals.
In addition to the bunch of data scientists and engineers that would study the ways people use Calibra, Facebook is now seeking a professional researcher with a PhD degree in economics to “initiate and execute projects around topics such as auction design, economic incentives in consensus protocols, market concentration, and macroeconomic aspects of the Libra currency,” the job description says.
Giving some insights into the initial design and functions of the Calibra wallet, the ad states:
“The first product Calibra will introduce is a digital wallet, which will be available in Messenger, WhatsApp and as a standalone app. The first version of Calibra will support peer-to-peer payments and a few other ways to pay such as QR codes which small merchants can use to accept payments in Libra.”
The total number of jobs open within the Calibra team now stands at 13 – a third of the total 38 Libra-related jobs Facebook is currently looking to fill, including senior positions like technology communication director, an SEC reporting director and a director of payments partnerships.
The Calibra job descriptions reveal some of the future ambitions of the project, which is aimed to become a universal global payment system, according to lines like this:
“In time, we plan to offer additional services for people and businesses, such as paying bills with the push of a button, buying a cup of coffee with the scan of a code, or riding your local public transit without needing to carry cash or a metro pass.”
Facebook is pledging a hands-off approach to Calibra users’ data amidst the ongoing criticism of how the firm is treating its users’ privacy. Questions over that issue will be likely raised during imminent hearings at the U.S. Congress and Senate banking committee, scheduled for July 16 and 17.
Facebook recently addressed the data privacy concerns in a document titled “Customer Commitment,” assuring the world that it won’t abuse the vast trove of user financial information Calibra will have at its disposal.
Facebook said:
“Calibra will not share account information or financial data with Facebook, Inc. or any third party without customer consent. For example, Calibra customers’ account information and financial data will not be used to improve ad targeting on the Facebook, Inc. family of products. The limited cases where this data may be shared reflect our need to keep people safe, comply with the law, and provide basic functionality to the people who use Calibra.”
The “limited cases” include preventing fraud and criminal activity, sharing information with third party vendors involved in transactions and sharing aggregated data on user behavior trends with Facebook.
Facebook unveiled its Libra project July 18, and revealed it already has support from companies like Visa, Mastercard, Uber, Lyft, PayPal, Coinbase and others.
Optimism regarding a spot bitcoin ETF application approval ignited an almost 49% gain in BTC's price since October. It is likely that the Securities and Exchange Commission approves or denies multiple applications simultaneously for logistical and consistency reasons. (Figures cited are as of Dec. 18 unless noted otherwise.)Spot BTC trading is concentrated on several exchanges:
Jul 31, 2020 at 11:43 UTCUpdated Jul 31, 2020 at 11:59 UTCBitcoin price chart for July (CoinDesk BPI)Bitcoin looks set to register its best July price performance for eight years and confirm a major bullish breakout in the process. Bitcoin is trading near $11,190 at press time – and is up nearly 22% this month,…
Stablecoin issuer and decentralized finance protocol MakerDAO bought another $700 million U.S. Treasurys, taking the total in its DAI stablecoin reserve to $1.2 billion, the platform said in a press release.The purchase was the latest step in Maker’s strategy, encapsulated by founder Rune Christensen’s “Endgame Plan,” to diversify the assets backing the $4.5 billion dollar-pegged…
Nov 30, 2020 at 6:20 p.m. UTCUpdated Nov 30, 2020 at 6:27 p.m. UTC(munandme/iStock via Getty Images Plus)Bitcoin Hits a New All-Time High: What Happens Next?Why a price surge is not only attracting a new cadre of institutional investors, but also producing the beginnings of a new set of FUD.For more episodes and free early access before…
Jun 15, 2020 at 03:20 UTCUpdated Jun 15, 2020 at 03:26 UTCJ. Pierpont Morgan (Credit: American Museum of National History; modified using PhotoMosh.com)Bitcoin proved itself a resilient asset, if not a stable or useful currency, during March’s global financial meltdown, according to analysts at one of the world’s largest investment banks. In a note to…
Bitcoin rose to a six-month high at around $63,000 as the ProShares Bitcoin Strategy ETF (NYSE: BITO), the first bitcoin-related exchange-traded fund to trade in the U.S., made its debut on Tuesday.BITO ended the trading day up 4.65% at near $41.80 per share. As of 4:02 p.m. ET, shortly after the close of U.S. stock…
news Crypto winter has been a boon for highly-anticipated bitcoin futures exchange Bakkt, an executive from its parent firm said Thursday. Jeffrey Sprecher, CEO of Intercontinental Exchange (ICE), said during the company’s Q1 earnings call that the ongoing bear market has been “helpful” for Bakkt, which was initially scheduled to launch last December, then delayed…
Jul 15, 2020 at 13:37 UTCUpdated Jul 15, 2020 at 13:43 UTCJ.P. Koning, a CoinDesk columnist, worked as an equity researcher at a Canadian brokerage firm and is a financial writer at a large Canadian bank. He runs the popular Moneyness blog. Bitcoin usage in the U.S: Everyone knows about it, but still few takers…
Oct 21, 2020 at 13:00 UTCUpdated Oct 21, 2020 at 13:20 UTCNew York Lawyers Propose Toolkit for Keeping ‘Decentralized’ Blockchains HonestA New York law firm is trying to test blockchain projects’ decentralization claims against their perhaps not-quite-so-distributed realities.Called the “Ketsal Open Standards” rubric, the toolkit, developed by the Ketsal law firm and revealed exclusively to…