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On Dec 9, the Bank of England opened applications for a £200K CBDC wallet prototype. The application specifically sought out “proof of concept and research,” Key deliverables include the development of a mobile wallet app, wallet and merchant website and a back-end server to serve mobile app and website, call the core ledger The Bank of England is seeking a proof of concept for a sample wallet for a Central Bank digital currency and will take applications through Dec. 23. The budget range for The Bank of England (BoE) is looking for a company to prepare a “proof of concept” for a crypto wallet that, in the future, could hold its own CBDC. The Bank of England has underlined its desire to pursue a central bank digital currency (CBDC) by putting a contract for a sample wallet out to tender. The BoE is

Bank of England Seeks Applications for £200K CBDC Prototype Wallet

The Bank of England (BoE) is actively exploring the potential of a central bank digital currency (CBDC). On Dec 9, the Bank of England opened applications for a £200K CBDC wallet prototype, signaling their commitment to researching and developing this innovative technology.

The BoE is seeking a company to prepare a “proof of concept” for a crypto wallet that, in the future, could hold its own CBDC. This initiative underlines the Bank of England\'s desire to pursue a central bank digital currency (CBDC) by putting a contract for a sample wallet out to tender.

£200K CBDC Wallet Prototype: Application Details

The application specifically sought out “proof of concept and research,” focusing on building a functional and demonstrable CBDC wallet prototype. Key deliverables include the development of a mobile wallet app, a wallet and merchant website, and a back-end server to serve both the mobile app and website, which will call the core ledger.

The Bank of England is seeking a proof of concept for a sample wallet for a Central Bank digital currency and accepted applications through Dec. 23. The budget range for this project is £200,000.

What is the Bank of England Hoping to Achieve?

This prototype wallet is a crucial step in understanding the practicalities of implementing a CBDC. The BoE is hoping to gain valuable insights into user experience, security, and the technical infrastructure required to support a digital currency. This project will provide crucial "proof of concept" data to inform future decisions regarding the development and implementation of a UK CBDC.

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