The aims of this project are to:
To enable end-to-end customer wallet journey, the PoCs will demonstrate: Wallet management, payments, advanced functionality, and innovation time allowance to demonstrate other functionality.
The bid process comes as Chancellor of the Exchequer Jeremy Hunt announced a package of 30 regulatory reforms for UK financial services, including the creation of a digital pound, on Friday. The BoE will take applications through December 23.
The bank has never worked on a prototype wallet for a possible CBDC. The initial five-month contract has a budget of 200,000 pounds.
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