Federal Reserve Bank of Boston Seeks Senior Software Engineer for CBDC Research

According to Blockworks, the Federal Reserve Bank of Boston is looking to hire a senior software engineer with a focus on digital currency. The LinkedIn job posting mentions that the role will support the Federal Reserve System's Central Bank Digital Currency (CBDC) Research and Development program. The engineer will lead a team dedicated to CBDC research and prototyping. The Boston branch of the US central bank is currently exploring the implementation of a CBDC and the requirements for its rollout. However, the Fed has not yet committed to a CBDC. The US remains uncertain about CBDCs, with some lawmakers on Capitol Hill expressing concerns about privacy. This issue is not exclusive to the US government, as the UK and other countries are also researching ways to protect privacy in any CBDC rollout. In September, US Rep. Warren Davidson, R-Ohio, stated that a poorly structured money system is 'perhaps the biggest existential threat to Western civilization.' Earlier this year, Republicans introduced the Central Bank Digital Currency Anti-Surveillance State Act, which aims to prevent the Fed from directly offering a CBDC to individuals. Democrats, including Rep. Maxine Waters, D-CA, have spoken out against the bill, warning that it could hinder the Fed's research into a CBDC. Despite the proposed legislation, the Fed continues to investigate the possibility of a digital dollar. Michael Barr, Vice Chair of Supervision at the Fed, said in October that while the central bank is no closer to making a decision on a CBDC, it continues to research potential systems. The current focus of the research is on end-to-end system architecture, ledger maintenance, security, verification, tokenization, and custody models.