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Bank of England finally taking a nosedive into CBDC

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The Bank of England has maintained its uncertain position of whether or not the bank will go ahead to launch a central bank digital currency, however, things may change soon for the country as the Bank or BoE has announced seven job openings all strictly related to CBDC.

The official vacancies window of the bank went live with seven job postings this week. The job positions are project analyst, solution architect, senior manager, technology analyst and a senior enterprise architect – all of which are connect to central bank digital currencies. Moreover, one of the job positing had the title of “Stakeholder Analyst – CBDC”. A senior CBDC policy analyst is also needed by the bank.

The page for the vacancies listing mentioned that the BoE is yet to land a decision on this matter. But the bank also went on about the importance of developing a central bank digital currency in today’s world. With the cryptocurrency market skyrocketing, the real uses of the blockchain technology had becoming more widely accepted.

China has taken the initiative into creating its central bank digital currency – the digital yuan or e-renminbi. The digital currency of the country is aimed at maintaining the control of the government over the digital sphere.

With China taking the lead, other central banks have also realized the importance of a CBDC in the current times. The jobs positing for CBDC related work of the Bank of England may hint towards a favorable decision of the bank concerning the matter.

If governments throughout the world launch their own central bank digital currencies, this may jeopardize the position of cryptocurrencies as regulators and governments may adopt a tighter stance on cryptocurrencies in order to encourage the use of CBDC.

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