CBDC Alert! New Zealand’s central bank is hiring for a “Head of Money and Cash” position

• The Reserve Bank of New Zealand is looking to hire someone for a new position - “Head of Money and Cash.”
• The role will be “focused on the future of money.”
• The specialist will be overseeing a division working on physical cash security, infrastructure and other monied areas.

The Reserve Bank of New Zealand is looking to hire someone for a new position - “Head of Money and Cash,” which will be “focused on the future of money.” The new role will entail a digital currency specialist who can analyze the trends reshaping financial infrastructure – “online payments and digital currencies” and provide “thought leadership around the future of cash and money.” It is pretty obvious that the Reserve Bank is looking to design a potential CBDC (Central Bank Digital Currency).

The specialist will be overseeing a division focused on physical cash security, infrastructure and other monied areas “from a holistic and policy perspective.” In the job description, the bank wrote:

This is a time of change for both the Reserve Bank and the global market transforming the demand and use of physical cash. New and emerging forms of digital payments are here to stay and the method in which people pay for things is changing rapidly.

With the outbreak of the coronavirus pandemic, businesses are becoming weary of physical banknotes and digital payments are on the rise in most countries. The central bank appears to be taking some steps to avoid getting left behind amidst these changes. 

This role will be at the forefront of these changes and will ensure that we are well positioned to ensure we continue to provide leadership, guardianship and access to cash and money for all New Zealanders.