San Francisco Fed Hiring CBDC Architect, Florida Governor and Republican Lawmaker: CBDC Must Be Banned

According to Cointelegraph, the Federal Reserve Bank of San Francisco is currently looking for a cryptocurrency architect to support the research and development of Central Bank Digital Currency (CBDC). Despite opposition from the Governor of Florida who had previously strongly opposed CBDC, Republican lawmakers also criticized treating CBDC as a criminal activity. However, none of these can stop the rapid development of CBDC technology.

To understand the functions, advantages, disadvantages, and development status of Central Bank Digital Currency (CBDC) around the world, please refer to this link.

San Francisco Fed CBDC Initiative

Recently, the San Francisco Federal Reserve released a job posting on Indeed, indicating that they are looking for a cryptocurrency architect to assist in the research and development of a Central Bank Digital Currency (CBDC).

The position offers an annual salary of $134,900 and has been open for over 30 days, requiring candidates with knowledge and skills in "distributed systems, cryptographic protocols, public-private key signatures, consensus algorithms, and cybersecurity," among others.

The job posting states:

The individual will be involved in the research and implementation of systems related to CBDC to further understand the costs and benefits of the technology and the potential impacts of this emerging field.

It also mentions: "The individual will work directly with internal management, other development teams and members, and external vendors."

Earlier this year in February, the San Francisco Fed had already revealed plans to recruit application developers for CBDC-related projects, and the position is no longer accepting applications.

Florida Governor and Republican Lawmakers: CBDC Should Be Banned

Florida Governor and presidential candidate Ron DeSantis, a prominent opponent of CBDCs, has publicly pledged:

If I become president, I will cancel the Central Bank Digital Currency on my first day in office. CBDC will not happen in this country.

U.S. Republican Congressman Warren Davidson also criticized the San Francisco Fed's recruitment efforts, claiming that CBDCs will corrupt money into a coercive and controlled tool, urging Congress to swiftly ban any design, construction, development, or testing of CBDC and treat it as a criminal offense.

He further added:

Money should be a stable store of value and should not be planned by a central entity.

It is worth noting that CBDCs have sparked significant controversy in the U.S. and have become a focal point in the presidential election. Supporters view them as a low-cost and transparent new blockchain application, while opponents believe they will infringe on people's privacy.

Rapid Development of CBDC Projects Worldwide

In recent years, there has been rapid progress in the planning and development of CBDC technology, with a significant increase in the number of related projects worldwide.

According to data from the Cointelegraph CBDC Database, as of May this year, over 100 countries are researching CBDCs, with about half in the development stage, and 39 countries have initiated pilot projects, verification, or implementation of CBDC-related measures.