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News Report

Crypto Adoption Grows as BIS Seeks Blockchain Engineers

2 mins
Updated by Ryan Smith

In Brief

  • The Bank of International Settlements (BIS) is looking for blockchain specialists.
  • Duties of successful applicants will focus on Central Bank Digital Currencies, security tokens, and token-based payment systems.
  • The application emerges as more central banks edge closer to the release of their own digital currencies.
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The Bank of International Settlements (BIS) is currently appealing for applications from experienced blockchain engineers. A job posting appeared on its website on Wednesday, Sep 16.
The three year, fixed-term position is with the BIS Innovation Hub. Accepted candidates will oversee various projects relating to blockchain technology. These include Central Bank Digital Currencies (CBDCs), tokens representing traditional securities, and token-based payment systems.

BIS Seeks Blockchain Experts

The BIS Innovation Hub was established in 2019. Its role, according to the job posting, is to observe emerging trends within financial technology and explore their relevance to central banks around the world. The post states that the chosen applicants will lead development projects for BIS. These will include designing and building ‘proof-of-concept’ distributed ledger and blockchain systems. The chosen software engineers will work out of either Hong Kong or Switzerland. According to the job posting, BIS blockchain experts will work towards the overall improvement of the global financial system. Candidates are expected to have an academic background in computer science, engineering, or other appropriate technology fields. Understandably, BIS also requires its blockchain specialists to have hands-on experience working in Python, Java, C++, Solidity, and other programming languages. BIS will be accepting applications for the multiple openings until October 7. Those successful will receive “competitive compensation,” as well as relocation benefits and allowances.

CBDC Race Heating Up

Given recent progress towards central bank-issued digital currencies, it should come as little surprise to see BIS appealing for blockchain experts. The group of 60 central banks presented analysis of the growing trend of CBDCs at the end of August. In an August 24 report, BIS looked at the motives behind an increasing number of central banks toying with the idea of their own digital currencies. It found that the leaders are nations with more innovative economies and efforts tend to be based on distributed ledger technology instead of “conventional infrastructure.” BeInCrypto previously reported on the advancing efforts of China, Sweden, and several other nations towards their own CBDCs. More recently, it emerged that the Central Bank of the Bahamas would tackle the task. Pilots for the so-called ‘Sand Dollar’ started in December. The central bank will reportedly roll out the strictly-electronic version of the Bahamian dollar in October. Despite being very different, multiple experts agree that CBDCs will have an overall positive impact on actual cryptocurrencies. In a report from earlier this year, research firm Messari concluded that CBDCs could provide bitcoin with a “secular tailwind.” The researchers believe that government-issued digital currencies will increase the public’s comfort with the concept.


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