By In an announcement that shocked many, The People’s Bank Of China or the PBoC recently announced that they’re on the hunt for blockchain tech & legal experts as they continue to develop their central bank’s digital currency.
The Central Bank appears to be searching for four engineers with system architecture, chip design, blockchain development & application, security protocol design & cryptography according to various employment ads which were posted on Tuesday.
The engineers will be directly responsible for the development of a fiat integrated digital currency software as well as a cryptography & security model and lastly a chip processor for completing end-point digital currency transactions according to the job specifications.
The central bank is also seeking to boost its manpower in order to further their knowledge in the studies of legal & economic implications that come with the launch of their own CBDC.
Furthermore, the PBoC also seeks to employ two finance & economics experts with their focus being the analysis of economic theory & the design of a monetary mechanism for issuing a CBDC. They’ll also be responsible for detecting any sort of regulatory risk involved.
The central did not reveal the size of their current digital research team, which they launched in July 2017 but it’s clear that the central bank is ready to increase their efforts to develop & launch their yuan-based digital currency which will have core features identical to a cryptocurrency, just by their recent hunt for new talent.
This recruitment drive comes hot on the heels of more than 40 patent applications from the digital currency lab in the last year alone, which when combined paint a clear picture of how close the PBoC is to achieving their goals.
Each of these patent applications bares a certain aspect of a digital currency system and when they’re all put together they spell out a technology that issues digital tokens which can be stored & transacted in a peer-to-peer way.
China is yet another Asian nation to show a massive interest in blockchain applications. Could this be another good omen for the world of cryptocurrencies? Let us know your thoughts!
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