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). On Dec. 9, the BOE posted a request for applications on the United Kingdom government’s Digital Marketplace, a service where government organizations can solicit work for digital projects. 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 to display balances, transactions and notifications. Of course, the wallet also has to demonstrate it can be loaded and unloaded with a CBDC, along with being able to request peer-to-peer payments through an account ID or QR code. It also must be able to be used to pay businesses online. Key deliverables for the project are creating a mobile app for iOS and Android, a website for the wallet, an example merchant website and the back-end infrastructure to serve the wallet website and apps while also storing user data and transaction history. “No work has been done” on a CBDC sample wallet, the bank said, and it “will not develop a user wallet itself.”
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