Another investment firm is planning on making investments into digital currencies. BlackRock, the largest asset management firm with more than $7 trillion in assets under management (AUM) is looking to hire Vice President, Blockchain Lead, as reported by Ledger Insights. The firm is not in search of a technical candidate rather it wants a business person who may come upon the requirements of the post and help the firm in boosting the demand for its cryptocurrency offerings.
In its new job posting, the firm said that it is looking for a Vice President who can assist the company in the valuation of digital currencies. Apart from devising methodologies for the valuation of cryptocurrencies, the applicant should also be able to “evaluate game theory and decentralizing governance models associated with blockchain technology”. As per the firm’s job posting, the role of the new VP will be to help the company in making investments in crypto assets and blockchain companies while serving as the blockchain lead of the company in New York. It will not be his/her task to build blockchain technology, the firm said.
The applicant should have knowledge of some key technical fields including public-private key cryptography, distributed network consensus mechanisms, and cryptographic hash functions. Only those will be able to apply for this post who have at least one year of experience in these technical areas.
This job posting by BlackRock has come at a time when various major financial firms are stepping into the cryptocurrency industry with their massive investments. Recently, the 169-year-old American insurance company MassMutual purchased $100 million worth of Bitcoin. In addition to this insurance company, Jefferies and One River Asset Management firm have also shown interest in the world’s largest digital currency Bitcoin. This shows that the institutional interest in cryptocurrencies especially in Bitcoin is growing potentially.
At the beginning of this month, the Chief Executive Officer (CEO) of BlackRock Larry Fink also made some positive remarks regarding the top-ranked digital currency. Bitcoin has succeeded in catching the attention of people and there is likely a chance that it may evolve into a global market asset. As Larry said:
“Bitcoin has caught the attention and the imagination of many people. Many people are fascinated by it. Many are excited about it… So, can it evolve into a global market? Possibly.”