Project Rosalind Phase 2 TechSprint - Invitation for Expressions of Interest (EOI)

In 2022 significant progress was made on Project Rosalind Phase 1, which focused on developing an experimental open API platform for retail CBDC. This development work is expected to be completed in Q1 2023 and will be followed by a further phase that will focus on testing and validating API functionality, exploring further use cases to understand adoption and support ecosystem building. This phase will be supported by the Rosalind TechSprint.

What are the challenges for the Rosalind TechSprint?

We are inviting organisations to submit expressions of interest to participate in this TechSprint. Teams will be required to come up with retail CBDC use cases and to demonstrate technological feasibility through prototyping against the Rosalind API. We expect the use cases to contain innovative elements, representing improvements to existing applications or something entirely new.

These could be ideas to solve existing or future problems, or potentially new consumer domains and capabilities that could be made possible by applying emerging or future technology. Selected participants will be given access to the Rosalind APIs to explore and develop innovative retail CBDC use cases through prototyping front-end solutions. Successful applicants will be provided with the necessary technical details and access to a sandbox to interact with the Rosalind APIs. Participants will be expected to use their own environment to develop their solutions. To help assess participation, supplementary information on the Rosalind API is provided here.

The TechSprint will run throughout March with a demo day at the beginning of April for participants to present their solutions to an invited audience. Expected key steps and dates are provided below.

Table 1: Non-exhaustive list of consumer domains and features  
  Payments Non-Payments
Consumer Domains

Individuals: low and high value, salary, food and groceries, housing (rent or mortgage), education, transport, large sum life events, luxury goods, hobbies, holidays, domestic and international.

Merchants: low and high value, sales, suppliers, employees, tax payments, plant and buildings, equipment, domestic and international, delivery vs payments (DvP).
  • Transaction reporting
  • Spending management
  • Cash flow management
  • Financing
  • Investment/wealth management
  • Buy and sell other forms of money
Features

Where: in-store, online, peer-to-peer (P2P), domestic and international

Means of payment: phone apps, web-based apps, near-field communication (NFC), smart assistants, smart cards, points of sale (PoS) and QR codes

Transaction types: pull and push, recurring, batch payments

Programmability: delivery vs payment (DvP), payment vs payment (PvP), escrow, micropayments

Who is invited to participate?

This invitation is open to all that are interested in hands-on exploration of retail CBDC. This could include, but is not limited to teams from the public sector, academia, and industry areas such as technology, payments and banking.

An "Ask me anything" session for potential participants is scheduled for 1-2pm GMT, 2 February 2023. Please email Londoncentre@bisih.org if you would like to attend.

How and when to submit your expression of interest?

To express your interest, please submit the following information in no more than two A4 pages to Londoncentre@bisih.org by 10 February 2023.

  1. A short and succinct description of your use case proposal, which should set out clearly the problem statement, the relevant consumer domain, technology and the solution you plan to develop.
  2. A brief bio for each member of the team, and a short introduction of the company or organization if applicable.

What are the next steps?

  • EOI submission is due on 10 February 2023

  • Selected teams will be notified before 22 February 2023

  • Bootcamp and API provided for selected teams: from 1 March 2023

  • Mid-point touchpoint: 20 March 2023

  • Demo day for selected solutions to be presented: 5 April 2023