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    Sonal Shridhar Shinde in Crypto News

    12-Dec-2022 08:57 AM


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    Bank of England opens applications for 'proof of concept' CBDC wallet

    The Bank of England (BOE) is seeking a “proof of concept” for a wallet that will be able to hold a Central Bank Digital Currency (CBDC).
    Simple guidelines for what the proof-of-concept wallet would have to achieve were outlined, with the wallet seemingly only needing to offer basic functionality such as a signup process, a way to update details, and show balances and transactions amongst other requirements such as displaying notifications.
    A budget of $244,500, or 200,000 British pounds, for an expected five-month project was set for the proof-of-concept with the BOE slated to evaluate five suppliers.
    There were no applications at the time of writing.
    The proof-of-concept wallet will also be test implemented with the Rosalind API.
    Source: Cointelegraph