LONDON—The Bank of England (BoE) is inviting applications from companies on a sample wallet that could one day hold its central bank digital currency (CBDC).
“The BoE has been conducting research on the viability of a digital pound for years now, although it has yet to commit to developing one. However, it has previously revealed that if it did develop its CBDC, it would not produce the wallet,” CoinGeek reported.
The BoE’s recent call for applications noted that “no work has been done on a sample wallet for a potential CBDC.”
According to the BoE, interested companies have until Dec. 16 to submit any questions on the sample wallet and until Dec. 23 to submit applications. The selected applicant will then have five months to deliver the wallet, with a possible one-month extension. The BoE has pledged £200,000 ($247,000) to the project, CoinGeek said.
The proof of concept in support of Project Rosalind, a project being undertaken by the Bank for International Settlements’ (BIS) Innovation Hub in London in partnership with the BoE. CoinGeek said it aims to develop prototypes for a two-tier CBDC distribution model with central banks at the foundation of the system and private companies undertaking customer-facing activities, such as wallet development.
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