The San Francisco Federal Reserve Bank is looking to hire a software engineer to assist with the creation and implementation of systems linked to a central bank digital currency (CBDC).
As this article is being written, more than 40 individuals have expressed an interest in working with the federal government to establish an in-house CBDC.
The San Francisco Federal Reserve has posted a job posting seeking a "senior application developer - digital currency." It is anticipated that the candidate will offer assistance to the Federal Reserve in conceiving and putting into action systems that are essential to CBDC research.
"Given the dollar's important role, Federal Reserve System seeks to further understand the cost and benefits of the potential technologies for central bank digital currencies, and how the system better understand this emerging field," the job posting read.
"The software engineer engages 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 development of systems that are relevant to CBDCs, the identification of improvements, and the mitigation of risks are all important key duties. The location of the employment is in San Francisco, California, and the starting compensation can range anywhere from $110,300 to $176,300.
India has onboarded 50,000 consumers and 5,000 merchants to test its freshly released digital rupee CBDC, which comes at a time when major economies all over the world are conducting CBDC trials.
Rabi Sankar, the deputy governor of the Reserve Bank of India, emphasized that the government intends to proceed with CBDC testing in the most expedient manner that is practical. He stated that while it is desirable for the process to take place, it should do so in a measured and measured manner. There is no rush on our part to get things going so rapidly.
The CBDC initiative is now being implemented in five cities across India, and there is a possibility that nine additional cities will join the pilot program in the near future.
