Bank of England hires a team to develop a digital currency

Apr 10, 2023
Bank of England gathers a team of developers to create a central bank digital currency (CBDC). According to the organization, 30 people will need to be hired to launch the product.
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Earlier in February of this year, it was reported that a study was being conducted on the development of the digital pound sterling. The name of the Britcoin project has repeatedly appeared in the media. The public was involved to assess the prospects of the digital asset launch plan.

According to the idea of the Bank of England, CBDC will be available through smart cards, wallets and smartphones. The digital currency is planned to be used for online and offline payments. At the same time, the central bank has not yet decided whether the digital pound will use distributed registry technology.

The Bank of England website contains vacancies for the positions of Digital Pound Security Architect and Digital Pound Solutions Architect. These vacancies were published at the end of March this year. The promised salary is up to $99 thousand.

The official representative of the Central Bank of England noted that a team of 30 people is a significant resource for starting the development of the project. According to Ian Taylor, advisor to the board of the CryptoUK trade association, such a number of specialists demonstrates the seriousness of the bank’s intentions to launch a digital asset.