The BOE asserts that it intends to create a mobile wallet app, a shop website, and a back-end server for a core ledger.
The firms who filed proposals for the $244,000 contract to develop a proof-of-concept central bank digital currency wallet (CBDC) were questioned by the Bank of England (BOE) (PoC). In response, the central bank made its replies to more than 70 questions public.
The BOE reportedly solicited applications from vendors on December 9 when it launched applications. About 20 firms submitted their applications and queries before December 25. After then, in an effort to clarify the project, the BOE publicized the questions raised by the competing suppliers and supplied its replies.
The BOE asserts that it intends to create a mobile wallet app, a shop website, and a back-end server for a core ledger. The bank made it clear that it has not yet committed to developing a sample wallet and would merely utilize the PoC to further its expertise. We’re utilizing this PoC to better understand how CBDC products could interact with one another, the BOE wrote in its report.
Despite the fact that 28 applications were initially submitted, eight providers withdrew following the question round, according to Cointelegraph. Nine small and medium-sized enterprises and 11 major corporations both filed applications. According to the BOE, the chosen candidate will be awarded the contract on January 31.
