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Britcoin privacy preserved as Bank of England taps Nuggets for identity layer

The London-based firm says it is working with the BofE to “design a privacy-preserving identity layer” for a possible digital pound.

The agreement would see the design and deployment of a secure system that “prevents tracking and correlation of transactions while maintaining the highest standards of fraud and anti-money laundering prevention”, the company writes on LinkedIn.

The central bank recently collaborated with HM Treasury on the release of a consultation paper in February, where it was decided that a digital pound was likely needed. However, the paper also confirmed that any decision to issue one would not come about until at least 2025.

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