Federal Reserve of San Francisco is Working on a CBDC, Job Posting Shows
- The Federal Reserve of San Francisco is hiring a crypto architect for its central bank digital currency project.
- The position has been open for more than 30 days, according to the Federal Reserve System Careers page.
- The salary starts at $134,900 each year, and the job will be full-time and hybrid.
- The person hired will be responsible for working on CBDC research and the development of the digital dollar.
Centralized bank digital currencies (CBDCs) have been criticized by crypto enthusiasts and United States politicians in the past few months. However, the Federal Reserve of San Francisco seems unbothered by the situation and has decided to work on developing a CBDC. The government agency is hiring a crypto architect for its CBDC project, and it is clear that the creation of a digital dollar might be on the horizon.
According to a job posting on Indeed, the salary starts at $134,900 each year, and the Federal Reserve of San Francisco stated that the person hired will be responsible for working on CBDC research and development. Moreover, the job listing also confirmed that the position is full-time and hybrid, i.e., the selected candidate will be required to come to the office 2-3 days per week.
The job posting from the Federal Reserve states that candidates are required to have “knowledge of distributed system implementation, cryptographic protocols such as hashing, public-private key pairs and signing, consensus algorithms, and security.” The posting also noted that “given the dollar’s significant role, the FRS seeks to further understand the cost and benefits of the potential technologies for CBDC and this emerging field.”
Additionally, as per the Federal Reserve System Careers page, the job posting has been open for more than 30 days, and it seems that no one has been hired yet. The posting added:
“We are looking for a Lead Application Developer to implement example systems related to a CBDC. You will engage directly with management, other developers on the team, development operations teams, and vendors to ensure the Federal Reserve is well-positioned to design, develop, and implement technology to support a CBDC as may be required by the Board of Governors.”
The Federal Reserve’s decision to create a CBDC might not be well received in the crypto space because of centralization concerns.
As reported earlier by BitcoinWisdom, the 46th governor of Florida, Ron DeSantis, said that he will ban the use of CBDCs as money if he gets elected the 47th President of the United States. DeSantis is one of the Republican candidates for the 2024 US Presidential elections and has shown his support for the digital asset industry. DeSantis has recently passed a bill in Florida that prohibits the use of federal CBDCs as money and the use of foreign central bank digital currencies in Florida.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
