Facebook has stolen nothing more and nothing less than two veteran employees of Coinbase, the buzzy startup Blockchain that is responsible for the compliance of the firm based in San Francisco and the most popular cryptographic exchange in the world.
While the rumors revolve around plans to intensify the Blockchain development of the social networking giant.
The former managers in charge of fulfilling Coinbase respond to the names of Mikheil Moucharrfie and Jeff Cartwright, who will continue to develop the similar work on Facebook when dealing with the problems of compliance of the social network in matters of blockchain technology.
Moucharrfie was with Coinbase for almost four years, most recently as a risk manager and formerly as a compliance manager where he ‘led a team of compliance analysts'. Now he works as Head of Compliance in Blockchain Facebook.
For his part, Cartwright was the director of risks and regulatory examinations of Coinbase, and its head of internal audit, in addition to working on compliance management before that. Now on Facebook he will be dedicated as Policy and Compliance Manager.
This is not the first time that secret hiring Facebook has been filtering in recent months as part of its efforts to form a first-rate Blockchain team to help develop its critpomoneda, which was widely publicized by Mark Zuckeberg recently at a conference, about the ability to use it as payments by courier through its subsidiary WhatsApp, of which Facebook owns.
According to Bloomberg, the Blockchain Facebook team now has 50 employees and could finally announce a product publicly in the third quarter of 2019.
For now Facebook has spent resources looking for experts in other parts of the industry to ensure that Blockchain's efforts comply with relevant regulations that govern an incipient industry that notorious for scandals and regulatory errors, and to try to prevent their plans from being truncated by the type of previous crises that have affected Facebook in other business areas in the last two years.
The chief risk and compliance officer of the company in the Blockchain team is Mandeep Walia, who joined in November 2018 after being the risk and compliance director of LendUp and the senior risk and compliance director of PayPal before that. position.
For now the firm is looking for people to fill vacancies in the area of communications, and strategy and brand information manager as well as a community, media and web administrator, suggesting that it is preparing for a public launch.
The network giant's job ads also suggest that Facebook is exploring Blockchain applications in more experimental areas such as healthcare and communications.