The UK Treasury is advertising for a lead on its proposed central bank digital currency – on LinkedIn.
The government is mulling the introduction of a ‘digital pound’ and will soon launch a public consultation.
Unlike cryptocurrencies, CBDCs are issued by a central bank. Physical money such as notes and coins are not produced; a so-called digital pound would only exist in electronic form.
The 24-month contract for a ‘head of Central Bank Digital Currency’ is based in London or Darlington and pays £61-67,000. The closing date for applications is Tuesday 7th February.
“The successful candidate will be responsible for leadership of HM Treasury’s work on a potential digital pound – a UK central bank digital currency (CBDC). This work is important, complex and cross-cutting, and the leadership will involve extensive engagement across and beyond HM Treasury,” read the job description.
“Treasury and the Bank of England are working together through the CBDC Taskforce to explore the case for a digital pound. Treasury and the Bank of England have committed to consult jointly on a potential digital pound, and the successful candidate will lead the Treasury team in the wake of the consultation’s issuance, including working with the Bank of England to consider consultation responses.
“The forward timeline for the work has been set out by Ministers and the Bank of England, and the successful candidate will be responsible for setting strategic direction within Treasury to deliver on that plan.”
The role, separate from the existing head of crypto-assets and digital currencies position, is within the Payments and Fintech Team.
Late last year Andrew Griffith, economic secretary to the Treasury, told fellow MPs on the UK Parliament Treasury Committee that there would be a lengthy runtime up to the introduction of a national CBDC.
The Bank of England says it is “looking carefully at how a UK central bank digital currency (CBDC) might work”, but adds: “We have not yet made the decision to introduce one.”