Many times, when the discussion of the creation of jobs within the crypto section comes up, the emphasis is usually placed on the private sector as blockchain and cryptocurrency are some of the fastest-growing sectors in terms of job creation and are only bound to get bigger as time goes on. However, there is a growing need for blockchain and crypto expertise within the public sector and in government because regulation of cryptocurrency is expanding on a consistent basis and governmental agencies find themselves in need of crypto-related expertise for this purpose.
One of the latest of these openings is with the US federal reserve as it was announced on November 3, 2019 that they are in need of a retail payments manager in their Washington DC office and this person is expected to have knowledge of digital tokens, stablecoins and blockchain technology.
As part of their duties, the new hire will be required to help in the promotion and implementation of regulations with regards to the retail payment section. This new hire is also rather significant because it shows that the federal reserve is acknowledging the importance of cryptocurrency and blockchain when it comes to retail payments.
Also, in light of the upcoming libra token, two congressmen asked the federal reserve weeks ago if they would look into possibly releasing a national digital token for the United States. The reason behind this is that digital currencies, as they grow in popularity, could undermine the power of fiat currency, especially since China, the Bahamas, and several other countries are developing their own national tokens.
While this new hire might be encouraging for some, former federal reserve chairman Simon Potter has said that any rumors about digital tokens undermining the US dollar are absurd.
“I see no argument that makes sense to have something that complicated out there when you have large, liquid capital markets in the U.S. Not having one currency that you can basically price things and have a deep market in, that makes life much harder for the global economy,” he said.