The Bank of Canada has recently published a job vacancy and is looking to hire an economist with proper knowledge of digital currencies and financial technology. This step by the bank is seen as one of the major steps towards the development of Canadian central bank digital currency (CBDC). This is because the hired person will have to look after all the developments related to CBDC.
Bank of Canada Has Defined a Set of Requirements
On the official page of Bank of Canada, a complete set of requirements that the applicant needs to fulfill. The economist will be responsible for analyzing and monitoring the complete development related to electronic money with a major focus on CBDC. The bank stated that the person should have in-depth knowledge of Bitcoin, Ethereum, and other major cryptocurrencies. Along with this, one should also be familiar with the traditional payments system as well. The bank has emphasized that it is a must to have experience in handling public blockchain data along with analyzing consumer survey data. The deadline for receiving the applications is set for October 25, 2020.
Canadian CBDC Development Progressing at Good Pace
Timothy Lane, the Deputy Governor of the Bank of Canada has also insisted on different central banks across the world to issue their own digital currencies. He also highlighted the importance of digital currency for the economy post the COVID-19 pandemic. He also mentioned that the development of the Canadian CBDC is progressing at a very good pace. Canadian Central Bank has also collaborated with the Bank of England, Bank of Japan, and the U.S. Federal Reserve to lay the foundation of CBDC. Most of the central banks are now accelerating the development of their CBDC to meet up with the requirements of the market post this pandemic.