BlackRock Plans to Meet Growing Cryptocurrency Demand

BlackRock, the financial firm with more than $7 trillion in assets under management, advertised a position of VP Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term Lead to drive demand for the company’s cryptocurrency offerings. The investment professional will create and implement BlackRock’s strategies to meet the growing demand for crypto assets.

According to the details of the job posted on the company’s website, the candidate must have experience in valuation methodologies for Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term along with technical knowledge of cryptographic hash functions. Additionally, BlackRock is expecting the Vice President, Blockchain Lead to have a sound knowledge of distributed network consensus mechanisms, and public-private key cryptography.

“The candidate must have 1 year of experience in articulating the technological foundations of blockchain technology including cryptographic hash functions, devising and articulating fundamental valuation methodologies for crypto-assets, evaluating game theory and decentralizing governance models associated with blockchain technology, and working with key drivers of blockchain networks’ design and their impact on the four key dimensions of blockchain performance including speed, scalability, privacy and security,” BlackRock mentioned in the official job description.

The Vice President of Blockchain Lead will be based in New York.

BlackRock’s Cryptocurrency Ambitions

Larry Fink, CEO of BlackRock has shown optimism regarding Bitcoin and other cryptocurrency assets in recent statements. During a conversation with former Bank of England Governor, Mark Carney at the Council on Foreign Relations, Fink mentioned that Bitcoin has gained the attention of Wall Street and the world’s largest cryptocurrency has the potential to evolve into a global market asset.

“Bitcoin has caught the attention and the imagination of many people. Still untested, pretty small market relative to other markets. These big giants move every day, it’s a thin market. Can it evolve into a global market? Possibly,” Fink said at that time.

The recent job vacancy advertised by BlackRock shows that the company is not only optimistic about Bitcoin and other cryptocurrency assets, but it is planning to introduce crypto-related services soon.