San Francisco Fed Hiring for Digital Currency Development
Like its New York-based counterpart, the office is looking for a CBDC developer.
The Federal Reserve Bank of San Francisco is looking for software developers to help research and design a central bank digital currency (CBDC).
One job listing posted to LinkedIn is for a “Senior Application Architect – Digital Currency.” It was posted to LinkedIn less than a day ago and, after capturing attention across the crypto space, already garnered 23 applicants.
A central bank digital currency is a tokenized version of a country’s fiat currency. Similar to stablecoins, a CBDC’s value tracks that of a currency issued by a government like the U.S. dollar. But instead of being managed by private companies, a CBDC is issued by a central bank like the Federal Reserve.
The position is one of three job listings that were originally published 18 days ago on the Federal Reserve System Careers website. In addition to the Senior Application Architect, the federal bank is also hiring a Lead Application Developer and a Senior Application Developer for digital currency.
The Senior Application Architect hired by the San Fransisco Fed will play a critical role in both designing a CBDC and overseeing its development, according to the job post, and will be responsible for both mentoring engineers and developing roadmaps that “balance tactical and strategic needs” related to the project. One of the position’s qualifications is experience working with digital payment systems, cryptocurrencies, or other CBDCs.
“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,” the posting states.
The posting goes on to say that the team developing a CBDC has the “feel of a start-up,” and that the Senior Application Architect role lists a salary range of between $134,900
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