Award

CBDC Research Collaboration Agreement

BANK OF ENGLAND

This public procurement record has 1 release in its history.

Award

12 Sep 2023 at 13:05

Summary of the contracting process

The Bank of England has awarded a contract for a twelve-month research collaboration on CBDC with MIT Media Lab in the field of Software packages and information systems. The contract is valued at £88,066 and involves exploring technical and regulatory aspects related to privacy and personal data protection. The procurement method used was a Single tender action below the threshold, and the tender period ended on 9th February 2023, with the contract period starting on 10th February 2023.

This opportunity for business growth in the services category caters to businesses interested in CBDC research collaborations, especially those well-versed in software systems and information technology. The buying organization, Bank of England, located in London, initiated this tender, providing a chance for suitable suppliers to engage in innovative research projects. Businesses looking to expand in the realm of financial technology or digital currencies would find this tender particularly relevant for their growth strategies and expertise.

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Notice Title

CBDC Research Collaboration Agreement

Notice Description

This contract with MIT Media Lab's Digital Currency Initiative is for a twelve-month research collaboration focused on exploring the technical and regulatory affordances to achieving privacy and protecting personal data across a central bank digital currency (CBDC) platform.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-67c65e5b-0c3f-4b3e-a32b-c8b17d945d2f
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/87c2d9e3-4d2c-496a-8c40-9fb8d26be7e3
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Direct
Procurement Method Details
Single tender action (below threshold)
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

48 - Software package and information systems


CPV Codes

48000000 - Software package and information systems

Notice Value(s)

Tender Value
£88,066 Under £100K
Lots Value
Not specified
Awards Value
£88,066 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
12 Sep 20232 years ago
Submission Deadline
9 Feb 2023Expired
Future Notice Date
Not specified
Award Date
10 Feb 20233 years ago
Contract Period
10 Feb 2023 - 29 Jan 2024 6-12 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Contracting Authority (Buyer)

Main Buyer
BANK OF ENGLAND
Contact Name
Jason Cheung
Contact Email
technology.contracts@bankofengland.co.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
EC2R 8AH
Post Town
Central London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)

Local Authority
City of London
Electoral Ward
Walbrook
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

MASSACHUSETTS INSTITUTE OF TECHNOLOGY

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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