San Francisco’s Federal Reserve Bank has posted a job opening for a crypto architect to work on a central bank digital currency (CBDC) project. The role involves conducting research and development related to CBDCs. The position is full-time and hybrid, offering an annual salary starting at $134,900. Candidates are required to have knowledge in various areas, including distributed systems implementation, cryptographic protocols, consensus algorithms, and security.
The job posting states that the Federal Reserve System (FRS) aims to understand the costs and benefits of potential technologies for CBDCs, given the significant role of the dollar. The position has been open for over 30 days, and the FRS is actively seeking a Lead Application Developer to develop example systems related to a CBDC.
Interestingly, these recruitment efforts seem to contradict the public stance of the Federal Reserve Board of Governors on CBDCs. The Board tweeted on July 19 that they had not yet decided whether to issue a CBDC and would only proceed with it if authorized by law.
The possibility of a digital version of the U.S. dollar has sparked controversy, becoming a major topic of discussion in the presidential election. Opponents argue that CBDCs threaten citizens’ privacy and could lead to excessive governmental control. On the other hand, supporters see it as an opportunity to apply blockchain technology globally.
In fact, one presidential candidate, Florida Governor Ron DeSantis, has promised to ban CBDCs in the United States if elected. He made this declaration during the Family Leadership Summit in Iowa, asserting that CBDCs would not be allowed in the country under his presidency.