The People’s Bank of China is interested in the creation of its own cryptocurrency and requires a blockchain professional technician and a legal expert to assist it in this task.
On Tuesday, several advertisements on different recruiting websites have appeared. The bank wants to hire 4 engineers majoring in system architecture, chip design, blockchain tech and design of apps, cryptography and security protocols.
According to the information provided in the vacancy description, the main task of these engineers will be a development of a fiat-linked cryptocoin software, a cryptography and security model, and a chip processor to perform cryptocurrency transactions.
Additionally, the bank wants to learn both legal and economic implications connected with launching a new digital coin.
The staff of the central bank must be also extended by 2 people expertise in finance and economics. Their task will be to analyze the economic theory and design a monetary mechanism how to issue a digital currency and how to avoid risks existing in this industry.
Unfortunately, the number of members working in the cryptocurrency team of the bank is unknown. In fact, the project was launched in July 2017 and this search of new experts only proves a great interest of the central bank to develop a digital coin based on the national currency yuan.
Previous information about the PBoC included the achievements of the team: they have patented over 40 apps since their establishment and it is a bright proof of huge steps a bank makes towards its main goal.
Every app developed is focused on different aspects characteristic of a digital currency system. In combination, they make up a technology to issue a token, store and transact it.