The San Francisco branch of the US Federal Reserve Bank has recently advertised a job opening for software developers to maintain their central bank digital currency (CBDC) system. This job posting was made on February 18th and is for a senior developer who will specialize in working on an application for electronic payment instruments. The US Federal Reserve hopes that this new hire will assist them in designing and implementing systems that are vital to the research of CBDC technology.
As mentioned in the job posting, the US Federal Reserve Bank recognizes the importance of the dollar and is interested in assessing the potential costs and benefits of CBDC technologies. They are actively seeking someone who can help them understand how these technologies can best be implemented in the current environment.
The responsibilities of the senior developer position include developing systems related to state digital currencies, identifying improvements, and reducing risks. This position is based in San Francisco, and the salary offered ranges from $110,300 to $176,300. According to reports, more than 40 people have already applied for this job.
Interestingly, the UK Treasury has also recently opened a similar vacancy for the position of head of the CBDC division. This suggests that the CBDC technology is gaining momentum and is likely to become an increasingly important aspect of the financial industry in the near future.