Blackrock Wants To Hire A Blockchain Vp To Drive Crypto Demand

BlackRock, the largest asset manager in the world, wants to hire a blockchain vice president whose major role will be to increase the demand for the firm’s cryptocurrency and crypto-based offerings.

The job posting by the company revealed that it wants someone with experience in the cryptocurrency industry to fill the position of a blockchain VP.

The ideal candidate will create and implement “strategies designed to drive demand for the firm’s offerings,” the job posting reads.

The candidate will also be vested with the responsibility of enhancing the value proposition of the company’s technology and investment offerings.

While there is no mention of the development of any specific blockchain-based product in the firm, BlackRock could be planning to meet the growing institutional demand for digital assets.

Experience in foundations of blockchain technology

Presently, BlackRock has about $6.84 trillion assets under management, making it the biggest in the industry, ahead of Vanguard and Fidelity with $5.6 trillion and $2.8 trillion respectively.

The job post description also said the applicant must have not less than one year experience in the technological foundations of blockchain technology, including distributed network consensus mechanisms, cryptographic hash functions, as well as public-private key cryptography.

Additionally, the applicant should know how to evaluate decentralizing governance and game theory models associated with blockchain technology.

Chief Executive Officer of BlackRock Larry Fink gave a slight indication that the asset management firm may by eying an investment in Bitcoin and cryptocurrency products. He commented on Bitcoin recently, stating that the top cryptocurrency has “caught the attention” of many people and there is a high possibility of the coin evolving into a global market asset.

Earlier this year, there were reports that some BlackRock investors are abandoning some of the traditional long-term investment products for cryptocurrency funds on Grayscale and other investment fund managers.

Shifting the focus to crypto investment

More investors are shifting their focus on Bitcoin and crypto investments. As a result, BlackRock wants to provide such investment options for its teaming clients to prevent losing them to other asset managers.

Initially, the company was skeptical about the prospect of getting into crypto investment. But with the changing market scope and a movement to digital assets, the firm has no option than to move with the tide.

Also, Chief Information Officer of BlackRock Rick Rieder has acknowledged the massive demand and growing influence of Bitcoin in the financial landscape.

Bitcoin will “take the place of gold to a large extent,” he reiterated.