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With sovereign governments and their central banks across the globe have been exploring the essence and the opportunities of CBDC (Central Bank Digital Currency) foreseeing a swift transformation phase in the prevailing finance system.
For now, the Bank of Canada has divulged their idea of central bank digital currency while looking out for project manager post. The Canadian central bank is seeking a project manager for its CBDC project, as per the job posting.
The Bank of Canada stated that it would be embarking on a program of major social significance to design a contingent system for a central bank digital currency (CBDC), which can be thought of as a banknote, but in digital form. This project will require us to break new ground. It will take into consideration a wide variety of factors, including policy considerations, diverse stakeholder needs, difficult technical challenges and the development of a technical architecture to realize a CBDC pilot system.
The regulators contemplate various factors before determining on the best way forward. They include stakeholder needs, regulatory policies, technical challenges and more.
