Boston Fed seeks software engineer for CBDC research

The LinkedIn posting states that the position would “support the Federal Reserve System’s [CBDC] Research and Development program.”


Adobe and A.Ruiz/Shutterstock modified by Blockworks


The Federal Reserve Bank of Boston wants to hire a senior software engineer focused on digital currency. 

The LinkedIn posting states that the position would “support the Federal Reserve System’s Central Bank Digital Currency (CBDC) Research and Development program.”

The engineer would head up a team focused on the CBDC research and “prototyping.” 

“This position offers a unique opportunity to be part of a world-class team working on cutting edge technologies related to CBDC R&D. You will participate in a dynamic work environment that has the feel of a startup while also maintaining the benefits of a larger organization,” the listing said.

The Boston branch of the US central bank is exploring how a CBDC could be implemented and what would be needed to roll one out. However, the Fed has not yet committed to a CBDC. 

Read more: Fed official: Stablecoins pose a threat, but could present innovative opportunities

In fact, the US remains unsure about CBDCs, with some lawmakers on Capitol Hill arguing that privacy is a concern. It’s a sticking point that isn’t just a worry for the US government either — the UK and other nations are researching how privacy could be safeguarded in any CBDC rollout.

Even RBC Wealth Management published a report on privacy earlier this year. 

In September, US Rep. Warren Davidson, R-Ohio, said that a poorly structured money system is “perhaps the biggest existential threat to Western civilization.”

Earlier this year, Republicans brought forth a 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

Waters warned that the bill could impede the Fed’s research into a CBDC.

The proposed legislation is clearly not stopping the Fed from proceeding with its research into a possible digital dollar currently. 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 research is currently focused on end-to-end system architecture, such as how ledgers that record ownership of and transactions in digital assets are maintained, secured and verified, as well as tokenization and custody models,” Barr said at the time.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg


In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.


Revolut said that the standalone crypto exchange is currently “invite only”


The stock price jump comes after Coinbase reported ending its seven-quarter run of net losses during the fourth quarter


BUZZ holds shares of Coinbase, Robinhood and MicroStrategy


Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile


The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally


While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders