Developing a Prototype API for Retail Central Bank Digital Currency Distribution in Project Rosalind

Creating a retail central bank digital currency (CBDC) system is a complex endeavor, requiring exploration of public-private collaboration, interoperability, competition, and consumer adaptation. Project Rosalind, led by the Innovation Hub’s London Centre in partnership with the Bank of England, focuses on developing prototypes for an application programming interface. This interface, built on a two-tier distribution model, facilitates central bank interaction with private sector providers for secure retail payments. The project also investigates functionalities supporting innovative use cases by the private sector, aiming to establish a strong foundation for a dynamic ecosystem. Named after Rosalind Franklin, the project delves into essential CBDC development aspects.