The U.K. government’s economic and finance ministry, His Majesty’s Treasury, is recruiting for a head of central bank digital currency (CBDC) to lead the development of a digital pound. The work is described as “important, complex, and cross-cutting” and will “require extensive engagement across and beyond the HM Treasury.”
According to the LinkedIn post, the Treasury and the Bank of England are working together through the CBDC Taskforce to explore the case for a digital pound. The role of the head of CBDC may bring the United Kingdom’s government closer to its aim of rolling out a CBDC.
Danny Scott, CEO of U.K.-based Bitcoin (BTC) company CoinCorner, told Cointelegraph that a CBDC could be missing the “actual real-world use and purpose, which is what we often see.”
“For those that have been in the industry for a cycle or two, we’ve seen the hypes come and go — altcoins, blockchain, distributed ledger, ICOs, DeFi, NFTs. You see large companies come along and jump on the latest hype to avoid looking like they’re falling behind. It falls under R&D and exploratory for most, which is perfectly understandable.”
Scott, who has been working and building in the Bitcoin space for over a decade, explained that sometimes, the public could misinterpret the research and development projects in the crypto space and perhaps confuse them with useful real-world solutions.
“A CBDC [digital pound]…
