Bank of Canada to hire an economist familiar with crypto

Bank of Canada to hire an economist familiar with crypto
Written by:
Ali Raza
19th October, 07:55
Updated: 19th October, 08:20
  • Canada's central bank is progressing with its CBDC development, according to its Deputy Governor.
  • Further, the bank posted that it is looking for an economist with an in-depth understanding of crypto.
  • Whoever wishes to apply needs to have deep knowledge of traditional payment systems, as well.

The Bank of Canada is making the next in a series of moves that will eventually lead to the creation of its own CBDC — or at least, that is what the crypto industry is assuming right now. Such assumptions came from recent information, revealing that the bank is looking for an economist with experience in financial technology and deep knowledge of crypto.

Conditions for potential applicants

The bank’s official page revealed that the economist’s job will be monitoring new developments in the electronic funds and payments sector, analyzing them, implementing research projects, preparing analytical notes, and more. It also adds that they should be ready for the potential development of a CBDC, indicating that the bank is continuing with its plans to issue its own coin.

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There is, of course, a set of specific requirements that the applicants need to meet in order to even be considered for the position.

For example, they need to possess in-depth knowledge and understanding of major coins, particularly Bitcoin and Ethereum, but also other coins and platforms. On top of that, applicants must also be familiar with traditional payment systems.

That includes merchant acquirers, card networks, PoS technologies, and more.

Further, applicants also need to have experience in analyzing data from public blockchains, handling it, and analyzing data from customer surveys.

Canada’s CBDC development continues well

Anyone who believes that they meet such requirements and is interested in the position has to submit their application by October 25th of this year.

Timothy Lane, the Central Bank of Canada’s Deputy Governor, recently said that central banks around the world should issue their own CBDCs. He stressed their importance, especially during the COVID-19 pandemic, which still continues to spread.

He also attended the Central Bank Payments Conference, where he pointed out that Canada’s CBDC development is progressing at, what he called ‘a good pace.’

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