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Felicia Tan
in
Crypto
June 18 19:13

Bank of Canada is looking for specialists to develop state cryptocurrency

The Bank of Canada is preparing to develop a CB cryptocurrency. The regulator has opened a vacancy for a project manager for the development of state cryptocurrency.
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According to the vacancy, the cryptosoftware being developed should protect user privacy (although not to the extent that cash does), be accessible to those without bank accounts or mobile phones, and compete with security banknotes to gain the trust of people who prefer cash.
In addition, the bank wants its state cryptocurrency to be created on the basis of architecture "with the possibility of long-term evolution of the life cycle," and be able to develop in line with the political goals of the country.
In the vacancy for the project manager, the bank did not indicate what technology will be used to create the cryptocurrency, and whether it will work on the basis of the token or account model. These details will be disclosed during the three-year term of the project manager. During this time, the bank also wants to create a "pilot system of state cryptocurrency".
Despite the vacancy, the bank has not yet committed to release the state cryptocurrency. In February, the Bank of Canada stated that "this is not the right time to issue government cryptocurrency". In connection with the latest information on the vacancy, a spokesman for the Bank of Canada said:
At the beginning of the year the Bank of Canada jointly with the central banks of Great Britain, Japan, Sweden, Switzerland, as well as the ECB and the Bank for International Settlements announced the creation of a task force to study government digital currencies.