Central Bank of Canada Takes Further Steps Towards a CBDC with Job Listing

The winning applicant's initial responsibility will be to watch the newest improvements linked to electronic money, but also analysis “the development of a CBDC”.

The Bank of Canada is looking for someone who is an economist and who has a wide awareness of financial technology and digital currencies, possibly indicating the latest in a series of moves towards a Canadian Central Bank Digital Currency (CBDC). 

Timothy Lane

The economist’s responsibilities will be to watch and examine the latest improvements linked to electronic reserves and payments, complete research projects, provide analytical data, and operate on the “potential development of a CBDC” according to the bank’s official page.

The Bank has described a set of qualifications that the candidate must meet, among which are a deep comprehension of Bitcoin, Ethereum, and different important cryptocurrency platforms, also awareness of common payment systems like card networks, dealer acquirers, and a spot of sale technologies. 

The candidate must also have knowledge in managing and analyzing common blockchain data and examining customer survey data.

The deadline for taking applications is Oct. 25th, 2020.

Timothy Lane who is the Deputy Governor of the Central Bank of Canada has lately told central banks worldwide to make their own digital currencies, highlighting their value for the economics in light of the Covid-19 pandemic. Lane also told at the Central Bank Payments Conference that Canada’s CBDC progress was at "a good pace."

In placing the fund for a CBDC, the Bank joins the Bank of England, the U.S. Federal Reserve, and the Bank of Japan, with others, who have also started conducting a study into the tenacity of CBDCs.