Bank of England Seeks Digital Currency Research Lead

The Bank of England is on the hunt for an economist to spearhead its research into a central bank-issued digital currency.

According to the job listing, the research lead would play a driving role in its bid to issue a digitized, blockchain-based version of the UK pound – an idea the Bank of England has been exploring since as early as last year.

Tthe central bank is looking for someone to lead the effort and examine whether "universal access" to this kind of electronic money would be "desirable" for users.

The listing explains:

"The job holder will be responsible for owning the research agenda, conducting their own research and galvanizing research on these questions by experts inside the Bank and in academia. The job holder will also be responsible for drawing conclusions from the research on the impact of a CBDC on monetary and financial stability and making policy recommendations to Governors."

But there are also signs that search is taking longer than perhaps expected. As Bloomberg notes, the UK central bank previously listed this position over the summer, suggesting either a dearth of quality candidates or a high standard for research hires.

However, the Bank of England may have time on its side.

Recent statements from the central bank’s senior leadership and other elements of the UK government indicate the undertaking is likely years away from any launch.

Bank of England via Shutterstock