Facebook to Hire 50 Staff in Ireland for Calibra

Social media giant Facebook is looking to hire up to 50 employees across its offices in Ireland.

Reported by The Irish Times on Monday, the hiring efforts by the company is to add manpower for its ambitious digital currency project - Libra Libra Libra is a yet-to-be-released cryptocurrency proposed by Facebook, Inc., that will aim to serve as a global payment system and a stable financial infrastructure that people across the world can use. The projected release date of the libra cryptocurrency is currently slated for 2020, while the project is currently being managed by the Libra Association.Headquartered from Geneva, Switzerland, the Libra Association main purpose is founded on three pillars.This includes the provision of a framework Libra is a yet-to-be-released cryptocurrency proposed by Facebook, Inc., that will aim to serve as a global payment system and a stable financial infrastructure that people across the world can use. The projected release date of the libra cryptocurrency is currently slated for 2020, while the project is currently being managed by the Libra Association.Headquartered from Geneva, Switzerland, the Libra Association main purpose is founded on three pillars.This includes the provision of a framework Read this Term.

The new workforce will be distributed among various divisions of Facebook.

“During this time of global uncertainty, we’re continuing to invest in our team located in Dublin,” Laura Morgan Walsh, head of operations at the social media company, told the publication. “We’re actively hiring experts in fraud, Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term, workforce management, and customer care to expand our operations team supporting the Calibra wallet.”

This came only days after the Libra Association’s revelation of its second whitepaper for its digital currency, changing the basic structure of Libra.

Will Libra see the light now?

Earlier, Facebook along with its Libra partners decided to peg the digital currency against a basket of fiats and other commodities. However, now the Swiss non-profit is proposing to create multiple stablecoins individually pegged to various fiats. These stablecoins will then support LBR.

Irish operations have become very crucial for Facebook. The report also pointed out that the social media company is already maintaining a small team for its subsidiary Calibra, responsible for the development of Libra wallets.

“Ireland is critically important to Facebook and plays a central role in our global operations. We have around 60 teams including engineers, safety and security experts, policy experts, marketing and sales people with a number of global and regional teams run from Ireland,” Gareth Lambe, head of Facebook Ireland, added.

Though regulators are not yet vocal about the updated Libra, mainly due to the ongoing impact of COVID-19 on the financial systems, some US lawmakers strongly criticized the project for failing to address their previous concerns.