San Francisco Fed is Seeking CBDC Developer as More Countries Join the Race

cryptonews.com:

The Federal Reserve Bank of San Francisco has announced a vacancy for a CBDC developer as the federal bank aims to explore the cost and benefits of the potential technologies for central bank digital currencies.

The San Francisco Fed posted a job opening titled “senior application developer - digital currency” on Saturday. The job description said the candidate is expected to aid the bank in designing and implementing systems critical to CBDC research. The post read:

"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 federal bank said they are looking for a senior developer to implement example systems related to a CBDC. The applicant will engage directly with management, other developers on the team, and vendors to ensure the bank "is well-positioned to design, develop, and implement technology to support a CBDC as may be required by the Board of Governors."

Moreover, key responsibilities include developing systems related to CBDCs, identifying improvements, and mitigating risks, to name a few. The job is in San Francisco, California, with a base salary ranging from $110,300 to $176,300.

As part of the qualifications, the candidate is required to have experience designing and maintaining digital payments, cryptocurrencies, or CBDCs. Knowledge of cryptographic protocols such as zero knowledge proofs, consensus algorithms, and security is also required. 

At the time of writing, a total of 46 individuals have applied for the position. 

Japan and Russia have become the latest countries to join the CBDC race by announcing upcoming pilots. 

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