The leading social media technology firm Facebook is striding fast in an attempt of building its fastidious team to roll out its own cryptocurrency for its 2.4 billion users. In the recent attempt, the firm has hired Ed Bowles for its London based office. The news broke out through Financial Times on June 14th.
As per the information, the senior bank lobbyist Ed Bowles from the Standard Chartered PLC- the British multinational banking and financial services company, would be joining Facebook’s London-based office where he would be positioning as a director of public policy from September 2019. At present, Ed Bowles is employed as a managing director of group public and regulatory affairs at Standard Chartered Bank.
Notably, Ed Bowles can provide his best possible inputs towards the launch of forthcoming cryptocurrency and other expected financial services which are the part of a project named “Libra”.
As per the corroborated news outlets on June 18, Facebook is expected to display its cryptocurrency project to the public with the launch of its whitepaper. Bowles rich expertise in anticipating the regulatory issues and ability to scrutinize them as per the structure prevailing in Europe would be beneficial for the establishment. Bowles is expected to help the company to implement its cryptocurrency strategy in the region.
Reportedly, the British multinational bank hired Bowles in 2007, his 12 years of respectable experience fitted him for this important role because he has dealt with public policies and regulatory affairs on a large scale being on a leadership role. The senior lobbyist is a think tank for trade, investment, and public policies between Asia and Europe, and also a member of the board of trustees at Asia House.
Interestingly, today it is also highlighted about Facebook’s another accomplishment for its impeding cryptocurrency project. The social networking giant successfully got the backing from various big institutions and few among them are Visa, Mastercard, PayPal, and Uber.
In May end, the cloud-based encrypted instant messaging and voice over IP service provider Telegram also revealed a test net for the users dubbed “Telegram Open Network (TON)” the native cryptocurrency token based on the smart contract.