The Bank of England is launching two working groups for offline payments and retailer needs as part of its central bank digital currency (CBDC) exploration. It published requests for information (RFI) from experts (suppliers) on these digital pound topics, asking for responses by September 3.
The working groups are separate from the CBDC Engagement Forum, but the groups’ work output might be shared with the Forum. In addition to the Engagement and Technology Fora, the Bank is also launching an Academic Advisory Group and invited applications by September 3.
Regarding the RFI, for offline payments the Bank wants to know if it’s feasible for a CBDC, what risks exist, and how then can be mitigated. It also wants to know about use cases for financial inclusion and other areas. Finally it wants to know if it should be part of the core digital pound design. Separately, the BIS published a book on the topic!
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