Bank of Canada Lists Job Looking for Economist to Research Canadian CBDC
The Bank of Canada is keen on researching Canadian CBDC.
Focus on Canadian CBDC
The Bank of Canada recently published a job opening, looking to hire an economist well-versed in everything fintech, and digital currencies. The job listing has fuelled speculations pertaining to the Bank of Canada’s interest in researching a Canadian Central Bank Digital Currency (CBDC).
Specifically, according to the job posting, the economist will “monitor and analyze developments in electronic money and payments, including CBDCs, cryptocurrencies, stable coins, crypto exchanges, and others.”
In addition, the job listing mentions “nice-to-have” knowledge that includes bitcoin (BTC), ethereum, and other major cryptocurrency platforms. Further, knowledge about traditional payments systems such as card networks, merchant acquirers, and point of sale technologies is a plus.
Moreover, the job also asks for relevant experience in handling and analyzing public blockchain data, and analyzing consumer survey data.
The project overview as specified by the Bank of Canada reads:
“The Bank of Canada is engaged in a large-scale research program to analyze the risks and opportunities of these new developments. A key part of this program is the monitoring framework for money and payments and the contingency planning for a central bank digital currency (CBDC). This is a program of major social significance and will require us to break new ground.”
It’s worth noting that the aforementioned job listing comes shortly after some Bank of Canada experts opined that some of the key characteristics of a proposed CBDC model should be accessibility, efficiency, affordability, and resilience.
It’s also interesting to note that earlier this year, Bank of Canada Deputy Governor Timothy Lane noted that the bank will only develop its CBDC if it sees a compelling reason to do so.
At the time, Lane said:
“All this being said, the world can change very quickly. The bank of Canada can imagine scenarios in which we would consider issuing a CBDC so we can continue to provide Canadians with trustworthy methods of payment. One scenario would be if we ever reach the point where cash could no longer be used for a sufficiently wide range of transactions.”
In similar news, BTCManager reported on October 17 how the Swedish Central Bank governor argued that the country shall have its own CBDC dubbed e-krona amid the declining use of cash among the Swedish populace.