The Bank of England has announced the availability of roles to oversee the development of its anticipated central bank digital currency.

The UK central bank intends to form a staff of up to 30 individuals to manage the project, according to the Sunday Times.

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“A team of 30 seems like quite a significant resource to focus on the digital pound,” said Ian Taylor, an adviser to the trade association CryptoUK, to the newspaper.

“It shows the impact it would have, and that the bank are serious about it.”

In late March, the Bank advertised job openings for a digital pound solution architect “to explore the technology design and architecture options for a potential retail CBDC”, as well as a digital pound security architect whose duty will be to “explore and develop secure technology design and architecture options for a potential retail CBDC”.

“HM Treasury and the Bank of England have recently issued a Consultation Paper setting out an assessment of the motivations and design choices for a potential digital pound, alongside a Technology Working Paper which outlines our emerging thinking on CBDC technology,’’ noted the job postings.

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‘’These papers signal that our work will now move onto a design phase, which will look at the technology and policy requirements for a digital pound.”

The Bank of England’s deputy governor, Jon Cunliffe, told a committee of MPs in February that a digital pound has a better than 50/50 chance of becoming a reality.

“These are big projects… this would be a very serious thing that would have to be resilient, fraud-proof, secure,” Cunliffe added.

“If we just wait until we say OK now, we think it’s needed, we will be five years behind.”