The last time SocGen and Bitcoin were “meaningfully” mentioned in a single sentence was in 2013, when its currency analyst Sebastian Galy penned a special note to their clients to explain the nature of the said digital currency. Since then, the France’s third largest bank had kept its silence on such disruptive payment technologies.
The self-inflicted jinx, though, seems to have broken with SocGen’s recent classified advertisement, in which the bank is eventfully seeking a full-time programmer with previous experiences in Bitcoin, blockchain and similar FinTech technologies.
The 12-month contract, according to the advertisement, would demand the appointed programmer to work for SocGen’s research and development on alternative financial technologies, such as Bitcoin. The roles and responsibilities include everything from creating a blockchain-like Proof-of-Concept algorithm, to gather quantitative information on the Bitcoin sector in London and elsewhere.
“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,” the bank stated in its advertisement. “[The chosen one] will acquire strong competence on technology that will prepare [him/her] to a position of developer on Crypto-Currencies/BlockChains banking: RAD/Prototype programming.”
Another Milestone for Bitcoin
While it is clear that SocGen is pushing its research departments to experiment with the Bitcoin technology, the bank has shied away from revealing anything further. It has however acknowledged the substantial changes FinTech technologies have brought to the banking sector, and has shown interests towards adapting it sooner or later.
SocGen’s decision has appeared in line with other banks and finance institutions that have also announced to experiment with Bitcoin’s blockchain technology. They include giants like Nasdaq, NYSE, Barclays, UBS, Citi and many others.