June 29, 2021
Canada Is One Step Closer To Launch Its CBDC
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Canada Is One Step Closer To Launch Its CBDC

The Central Bank Digital Currency (CBDC) is on the top of the news these days. Many governments and countries are trying to launch their own CBDC so far. In fact, they responded to the revolution in banking system, which Bitcoin started 11 years ago. In the latest news, Canada is one step closer to launch its CBDC. They are going to take help from expertise in this industry to lead and run the project.

Canada is launching its own CBDC

The Bank of Canada is looking to hire expertise in order to monitor the latest development of Canadian CBDC as well as doing research on its development. The candidates should have economy background comes along with deep knowledge of financial technology and digital currencies.

The Bank of Canada announced on its official page about the economist duties in this project. The job scopes consist of implementing research projects, monitor and analyze the latest development related to electronic funds and payments as well as preparing analytical notes and figuring out the potential development of a CBDC.

Canada Is One Step Closer To Launch Its CBDC; Applicants requirements

All the applicants must meet a set of requirements in order to be eligible to occupy the position. The requirements include deep knowledge of cryptocurrencies such as Bitcoin, Ethereum, etc. They also need to be familiar with traditional payment systems.

In addition, they need to be able to handle and analyze public blockchain data and consumer survey data. The application deadline is on Oct. 25. 2020.

Timothy Lane called all banks to issue their own digital currency

Timothy Lane, The Deputy Governor of the Central Bank of Canada, invited all central banks to issue their own CBDC. In fact, she believes that having a form of digital currency is essential, especially in some cases such as COVID-19. In addition, she mentioned that Canadian CBDC had a good progress so far and is ready to launch in the near future.

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