The Federal Reserve Bank of San Francisco has recently posted a job listing on LinkedIn, looking for software developers to assist in the research and design of a central bank digital currency (CBDC). The San Francisco Fed is seeking a Senior Application Architect – Digital Currency for the position, which was posted less than a day ago and has since captured the attention of the crypto space.
The position involves working on novel systems related to the development of a CBDC and will require the successful candidate to work full-time as a mid-senior executive. This move comes at a time when the SEC has been cracking down on crypto companies, leading to some irony in the situation.
San Francisco Fed Posts Job Listing for Digital Currency Developer to Assist in CBDC Design
A CBDC is a tokenized version of a country’s fiat currency, and many central banks around the world are exploring the possibility of creating their own digital currencies. The US Federal Reserve recently announced plans to publish a research paper on the subject and gather public comment in an effort to get the US to play a more active role in digital currencies.
Some officials at the Federal Reserve believe that the central bank needs to get into the digital currency game, while others are concerned about crowding out the private sector. The move by the San Francisco Fed to hire digital currency developers is a clear indication that the central bank is serious about exploring the potential of a CBDC.
While not everyone is excited about the prospect of a CBDC, there is hope that it could lead to greater adoption of digital currencies. It remains to be seen how the digital currency landscape will evolve, but the San Francisco Fed’s move to hire digital currency developers is a clear sign that they are taking the potential of a CBDC seriously.
