The United States Federal Reserve is looking to employ a Manager, Retail Payments, part of whose responsibilities will be to oversee the research of digital currencies and distributed ledgers. The job ad has been published amid pressure from Capitol Hill to explore the possibilities of issuing a digital dollar.
Federal Reserve to Hire Retail Payments Manager
Geopolitics is a fast paced, high stake game and no major player can afford to ignore the surprising moves of their opponents. The Chinese leadership is now betting on blockchain while the People’s Bank of China is working on a digital yuan. Calls for a digital greenback, still the world’s main currency, have been issued in the corridors of power in Washington. This is all happening on the backdrop of a raging trade war with Beijing in which global dominance is at stake.
The potential benefit of integrating digital currencies into retail payments has caught the attention of the Federal Reserve. A job opening posted on Nov. 4 shows that the U.S. central bank is now planning to expand research in the field. The Fed’s Board of Governors is seeking to hire a professional who will be in charge for overseeing its Retail Payments Section. Facilitating financial and digital innovation is part of the job description.
Candidates must bring at least a bachelor’s degree but a master’s or other advanced degree is preferred. They are also expected to have at least seven years of relevant experience. The position is based in Washington, D.C. and the Fed provides support for relocation. Although it’s a regular job, it involves a decent amount of travelling – 25% of the time according to the ad.