In line with a recent document published on the bank’s website, PBoC is seeking2engineers at their DigitalMoneyInstitute withexpertisein blockchain and cryptography, security, and chipdesigning. The bankdesiresthe engineers to develop a securemassiveknowledge platform and a chip processorthat maypermitcrypto transactions.
The engineersare going to beaccountable fordigital currencyrelatedsoftware packagesystems,encoding technology and security models, along with transaction terminal chip technologyanalysisand development.
PBoCis additionallyseekingconsultantsin economic law and financewhowould beaccountable for legalanalysis, the analysis of economic mechanisms, risk management, and policyanalysison “legal digital currency.”
The move comes shortlyafter anop-edrevealedby CN Finance which is a native finance journallinkedwith PBoC —wherethe bank’sconsultantsdescribe the recently launched USD-backed stablecoins that they claimmightnegatively influencealternativefiats, including ‘Yuan’. Theconsultantsfurther addedthat Chinashould evaluatelaunching its own yuan-backed stablecoinwhereaskeepingthe existingban on cryptocurrencies.
The govt. of China primarily opposed cryptocurrencies back in 2017,onceall of the country’s cryptocurrency exchanges were closed and ICO’s wereprohibited. Later PBoC repeatedly issued warnings on risks of cryptomercantilism.
After the introduced ban, China hastargetedon blockchain solutions. ThisseasonPBoCdeclaredthe launch of a blockchainmercantilismand finance platform in Shenzhen. The network is also expected to expand furthertoGuangdong, Hong Kong,along with Macau Bay Areaand also permitscross-bordertrading’s.