‘Financial equivalent of the Death Star’: CBDC jobs multiply in public, private sectors

Jobs related to central bank digital currencies, or CBDCs, are popping up across the globe.

According to a recent survey, 93% of central banks , with a few considering issuance within the next three years.

Three fully-fledged CBDCs are operating in the wild right now: the eNaira in Nigeria, the Sand Dollar in the Bahamas and JAM-DEX in Jamaica.

While seven official CBDC projects have been canceled, dozens are in pilot or proof of concept phases, including ones in France, Canada, China, Singapore and the UAE. 

Some relevant open positions are on the market right now — across both the public and private sectors.

Federal Reserve Bank of San Francisco 

— CBDC

Compensation: $134,000 to $215,000

Lead research and development of cutting-edge CBDC technologies, implementing example systems and collaborating with teams to support the Federal Reserve’s CBDC efforts. 

(No US CBDC has been announced, pilot or otherwise.)

Federal Reserve Bank of Boston 

— Digital Currency

Compensation: Undisclosed

Lead the design of new distributed systems, mentor software engineers, research CBDC technology and propose plans to enhance existing systems.

Federal Reserve Bank of Cleveland 

— CBDC

Compensation: $100,000 to $200,000

This involves implementing new systems for CBDC, applying modern development standards and researching state-of-the-art technology practices.

Bank of England 

— CBDC

Compensation: Between 62,000 to 70,000 British pounds ($80,000 to $89,000)

Develop policy thinking on CBDC, understanding its implications for the economy and financial system, shaping strategy, monitoring external CBDC developments and contributing to bank publications. 

(The UK is in the research phase for a potential digital pound, but as yet, there’s no formal proposal.)

Monetary Authority of Singapore

, BIS Innovation Hub

Compensation: Undisclosed

Leading solution design and implementation for CBDC and digital payment projects, building regional stakeholder networks and coordinating with other BIS Innovation Hub centers and central banks.

(Singapore’s CBDC project, Ubin+, is in pilot phase, per CBDCTracker.)

Ripple

, central banks

Compensation: Between $109,000 to $247,000

This involves working with multiple clients to understand their CBDC objectives and finding ways to use Ripple’s technology to assist them.

Split views on CBDCs among US lawmakers

US Republican Rep. Warren Davidson voiced his opposition to CBDCs in a on Sunday. He likened CBDCs to the financial equivalent of the Death Star, a fictional superweapon from the Star Wars universe capable of obliterating entire planets with its laser beam.

He suggested Congress should promptly enact legislation to prohibit and criminalize any attempts to design or establish a CBDC.

However, there are exceptions to his viewpoint. Democratic Rep. Jim Himes of Connecticut a US CBDC last year, highlighting its benefits, including increased financial inclusion and access to financial services for the underserved.

Hot crypto job market?

Elsewhere in the industry, several other attractive job opportunities have popped up with competitive salaries. 

For instance, Coinbase currently has more than , including accounting and finance roles offering between $92,000 to $230,000 per year, and business operations positions with annual salaries ranging from $127,000 to $237,000.

Venture capital giant Andreessen Horowitz also recently a position for a crypto-focused policy partner. The role entails working alongside regulatory experts and keeping the firm informed about global developments.

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