BofE taps Nuggets for digital pound privacy layer

finextra.com:

Nuggets, which has built technology for decentralised identity, worked with the BofE and the BIS on the recently completed Project Rosalind, which explored how a "universal and extensible API layer" could connect central bank and private sector infrastructures and enable retail CBDC payments.Now, the firm is being asked by the central bank to design a private and secure system that prevents the tracking and correlation of transactions, as well as stop fraud and money laundering.Earlier this week, financial services minister Andrew Griffith cited privacy as a reason to "proceed cautiously" with designs for the digital pound.While the BofE has said it will not make a final decision on introducing a Britcoin until at least 2025, deputy governor Jon Cunlifffe told a committee of MPs in February that a digital pound has a better than 50/50 chance of coming to fruition.Since then, the bank has begun recruiting as it looks to create a team of up to 30 people to oversee the project.