Verizon has announced plans to establish a blockchain team to develop new networks for all branches of its business. The company’s job posting site lists 21 blockchain-linked roles, including blockchain engineers, and the initial plan seems to be for a customer-centred privacy, security and payment system. Blockchain, which is often described as an alternative cryptocurrency, uses encryption technology that allows transactions to take place without any central authority or middleman.
Verizon has announced plans to establish a blockchain team to develop new networks for all branches of its business. The company’s job posting site lists 21 blockchain-linked roles, including blockchain engineers, and the initial plan seems to be for a customer-centred privacy, security and payment system. The company has not commented on the blockchain stories, but analysts have said the company would face hiring challenges against competition from firms including Google, Amazon, Facebook and Microsoft hiring for blockchain programmes.