VISA Is Getting In Crypto And Looking For A Blockchain Developer Hero

Visa Inc. which is one of the largest payment processors and credit card companies, is currently seeking a full-time technical product manager specializing in blockchain for its office in Palo Alto, California. As a recent job posting to SmartRecruiters unveiled, the global card giant is looking for someone that is:

“…passionate about the intersection of payments and cryptocurrency,” and “deeply familiar with permissionless blockchain technology.”

This puts Visa in the recent news about hiring on our DC Forecasts crypto news site. The job requirement looks like Visa is one of the top blockchain companies in the crypto industry, all while the reality is that Visa is just now getting into crypto.

A lot of people in the crypto atmosphere are hailing the entry of Visa to the industry as a move of mass adoption. However, we are unlikely to see mass adoption of a payment system that has the features and benefits of the most popular cryptocurrencies.

Any talented PMs interested in the intersection of crypto and retail payments? We are hiring for a new team focused on building products for fintechs that support digital currencieshttps://t.co/Kh6g4sSbk0

— Cuy Sheffield (@cuysheffield) March 17, 2019

Instead, we will probably see something like JPM Coin which is Jamie Dimon’s attempt to get JP Morgan into a cryptocurrency and a move that represents a US dollar in the company’s internal accounting software on its centrally controlled and walled off private databses.

The job description classifies VISA as:

“Common Purpose, Uncommon Opportunity. Everyone at Visa works with one goal in mind – making sure that Visa is the best way to pay and be paid, for everyone everywhere.”

Meanwhile, Visa is hampered by its deep entanglement with the regulatory regime and the current regulation which makes it illegal for Visa to design a financial platform with the fundamental values built into Bitcoin and the other cryptocurrencies.

For those of you who don’t know, Visa and the other finance companies are legally prohibited from offering their customers with the value propositions that made Bitcoin one of the most profitable investments. They are required to survey their users as well as report to various government authorities. They are also required to wield the control they retain over the ability to make payments and hold you hostage to their rules.

At the end of the day, this move is certainly surfacing something bigger for Visa which we all want to see in the near future.