Bank of England Targets 30-Strong Team for Digital Currency – According to a report in the Sunday Times, the Bank of England is planning to form a team consisting of as many as 30 people in order to develop a central bank digital currency (CBDC). The publication did not specify where it acquired the figure.
The United Kingdom’s central bank and finance ministry announced in February that they will begin additional research and development on a digital version of the pound sterling, and they urged the general public to weigh in on the plans. The project has been referred to as Britcoin by the press; however, the bank is not fond of the moniker and has stated that a decision has not been made over whether or not a digital pound will utilise distributed ledger technology.
On the careers page of the bank’s website, there are openings for a Digital Pound Security Architect as well as a Digital Pound Solutions Architect. Both of these posts were posted around the end of the previous month. These positions offer salaries of up to 80,000 British pounds ($99,000).
In January, the Treasury Department put out a job advertisement for a Head of Central Bank Digital Currency. “A team of 30 seems like quite a significant resource to focus on the digital pound,” said Ian Taylor, a board adviser for trade association CryptoUK, according to the newspaper. “It shows the impact it would have, and that the Bank is serious about it.”