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French Megabank Société Générale Seeks Bitcoin Expert

(@mpmcsweeney) | Published on July 22, 2015 at 19:40 GMT
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One of France's biggest banks is looking to hire a developer with a focus on bitcoin.

Société Générale (SocGen) posted a job listing on 2nd July for an "IT developer on bitcoin, blockchains and cryptocurrencies". SocGen is the third-largest French bank in terms of assets, reporting $1.3tn in assets in 2014.

The 12-month contract, according to the post, would entail research and development involving cryptocurrencies and the blockchain. Though no specifics were outlined, the post suggests that the bank is looking to develop in-house software, citing "prototype programming".

The listed responsibilities of the position include:

  • Developing proof-of-concept in any language/protocols used in cryptocurrency protocols and blockchains 1.0-3.0
  • Programming in C#/C++/Python/Other against bitcoin, altcoin, blockchain different altchain APIs
  • Running statistics against blockchains and engineering ways to gather quantitative information on what’s really happening in the cryptocurrency world.

The position also calls for the organization of internal reports, staff presentations and training programs. The VIE – a kind of international volunteer or internship role – will be tasked with "engaging with the FinTech community and gathering information on the crypto-currency sector in London and elsewhere."

SocGen did not immediately respond to a request for comment.

Research push

Assuming the bank can find the cryptocurrency developer it seeks, SocGen would become the latest bank to begin devoting resources to bitcoin and blockchain research.

SocGen stated in the post how the position is part of an effort to evolve in the face of technology-driven changes in the financial sector.

"The type of position that is offered is at the forefront of SocGen’s attempt at anticipating sweeping changes in the banking sector caused by FinTech and adapt to it," it wrote.

The bank itself has been relatively quiet on the subject, though it made headlines in 2013 amid the financial crisis in Cyprus and a large-run up in the price of bitcoin after the island nation's banks received a bailout.

SocGen sent a note to investors after receiving numerous requests for information on the valuation of bitcoin. At the time, analyst Sebastien Galy suggested that the price of bitcoin – which had risen from roughly $13 at the start of 2013 to more than $130 by 1st April – was in the midst of an "aggressive" bubble.

Image credit: Kiev.Victor / Shutterstock.com

This report has been updated.

Blockchain TechnologyFranceSociété Générale

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