David - Cryptocurrency Enthusiast
The Federal Reserve Bank of San Francisco is looking to hire a software engineer to develop and implement systems related to a central bank digital currency (CBDC). In just 24 hours after the job posting, there have been 45 applicants showing interest in joining the project. In order to advance their CBDC research, the Federal Reserve is counting on the candidate to lend their expertise in developing and executing essential systems. The development of a CBDC is essential to the government’s aim of further understanding the cost and benefits of potential technologies for central bank digital currencies.
As the Federal Reserve Bank of San Francisco seeks a senior application developer to contribute to the development and implementation of its central bank digital currency (CBDC), the selected candidate will be responsible for collaborating with multiple stakeholders, such as management, vendors, and other developers. Their pivotal role will involve building systems essential to CBDC research, identifying improvements to existing frameworks, and mitigating potential risks, thereby ensuring the Federal Reserve has the advanced technology required to support a successful CBDC.
As major economies across the world continue to test CBDCs, India has onboarded 50,000 users and 5,000 merchants to test its recently launched digital rupee CBDC. The Reserve Bank of India deputy governor Rabi Sankar has stated that the government plans to proceed with CBDC testing gradually and slowly. India’s CBDC project is currently active across five cities, with nine more cities potentially joining the pilot soon.
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