UK financial authorities work with industry on digital ID, US regulator signals support

UK payments and self-sovereign identity firm Nuggets has worked on developing a digital wallet solution for a retail use case of a potential UK Central Bank Digital Currency.

A CBDC is a digital version of a state's fiat currency — like the U.S. dollar or the Euro — backed by a central bank. However, they are different from the likes of Bitcoin or Ethereum, as they are run on a private blockchain controlled by a government.

The work came as …

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