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Nature Of Money And Payments Is Changing Amidst Booming Digital Environment | CryptoGazette

CryptoGazette – Cryptocurrency News


It’s very clear so far that we are living in a more and more digitized world and things are constantly evolving. Money is no exception, and crypto is the best evidence for this.

It’s been just revealed that the Federal Reserve in the US is working to keep in step with a world that’s going digital.

In a new job ad, the Fed said that they are looking for a manager for the digital innovations policy program at the reserve bank operations and payment systems (RBOPS) division.

Future of payments

The online publication the Daily Hodl, noted that among other responsibilities, the successful candidate would oversee aspects of the program that concentrate on issues regarding the future of payments.

“This includes the changing nature of money and payments platforms in an increasingly digital environment, the potential benefits and risks associated with digital assets such as stablecoins and central bank digital currencies (CBDC), the impact of digital innovations on the Fed’s operation and oversight of financial services, and the supervisory and regulatory framework for emerging payments platforms, activities and institutions,” according to official notes.

More than that’s it’s been also revealed that the job posting adds that the chosen candidate will be required to work with a “range of domestic and international partners on digital innovations topics.”

Back in 2020, last year, Chairman Jerome Powell stated that the Fed is closely examining the risks and trade-offs of creating the digital version of the US dollar.

“We do think it’s more important to get it right than to be the first. And getting it right means that we not only look at the potential benefits of a CBDC but also the potential risks and also recognize the important trade-offs that have to be thought through carefully,” he said back then.

Check out the original article posted by the Daily Hodl to learn more details.



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