China central bank firm recruits blockchain staff, perhaps for CBDC

An indirect subsidiary of the People’s Bank of China, Yangtze River Delta Financial Technology, has been heavily recruiting for blockchain professionals, reported Sina Finance.

The People’s Bank of China is gearing up to introduce the digital renminbi. It has formed the Central Bank Digital Money Research Institute to oversee affairs related to the Central Bank Digital Currency (CBDC). The Chinese news outlet made a deduction that the staff will work on the CBDC.

However, the CBDC itself is not expected to be blockchain-based, though it could be. As shown below, the subsidiary is also involved in other blockchain activities. Hence the staff could work on separate or related applications that will leverage the digital renminbi.

Sina Finance said that Yangtze River Delta Financial Technology was established by the Central Bank Digital Money Research Institute, a unit of People’s Bank of China (PBOC), with a registered capital of 50 million yuan ($7.1 million).

Yangtze River Delta Financial Technology is hiring for a blockchain technology director, a blockchain architect, blockchain research and development engineers, and numerous other positions. The remuneration offered for the blockchain technical director and data centre manager is between 50-80k yuan per month, that’s equivalent to $7,000-$11,000 per month.

The company was formed to create the digital currency infrastructure, undertake the research and development and pilot of the upcoming digital currency, and focus on fintech such as blockchain and cryptography.

The intermediate shareholders of the firm include Shenzhen Financial Technology, Suzhou High-speed Railway New City Innovation and Venture Capital Co Ltd.

Shenzhen Financial Technology, a subsidiary of the Central Bank Digital Money Institute, last year joined Bank of China, China Construction Bank, China Merchants Bank and Ping An in the to launch Bay Area Trade Finance Blockchain Platform.

China’s Central Bank Digital Currency…

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