Bank of Korea Reportedly Selects 3 Cities to Pilot CBDC
According to a local South Korean media outlet, the Bank of Korea has selected three regions to pilot its central bank digital currency (CBDC), none including the country’s capital, Seoul. The Bank of Korea confirmed on July 31 that Jeju, Busan, and Incheon have been selected as candidates for the “private target CBDC test bed.” […]
Samsung and BOK team up for offline CBDC tech
Samsung and the Bank of Korea are working together to develop offline CBDC technology that can enable secure and reliable transactions using digital currency on Samsung devices with NFC. In a strategic pivot toward the future of finance, South Korean technology giant Samsung has partnered with the Bank of Korea (BOK) to enter the field […]
South Korea To Overturn ineffectual Crypto ICO Ban
The Bank of South Korea says that companies like Terra, which makes stablecoins, were able to get around the ban and sell digital tokens to people in Korea by setting up businesses overseas. In a report released Monday, the Bank of Korea said that South Korea landmark crypto regulations will have to legalize initial coin […]
Samsung will help the Bank Of Korea in its CBDC Pilot
Samsung will aid the Bank of Korea in deploying its CBDC, the electronics giant hopes to test the functionality of its mobile phones with the CBDC pilot. The Bank of Korea’s central bank digital currency (CBDC) initiative, which is set to launch by the end of July 2021, is gathering traction. The effort will be […]
Bank of Korea selects GroundX for their digital currency project
The Bank of Korea has selected Kakao’s blockchain arm to conduct digital won trials. Additionally, ConsenSys, a major Ethereum software startup , will contribute its technology to CBDC simulations in South Korea, which will be conducted by Ground X. In order to support its digital currency experiments, the South Korean central bank has selected a […]