Samsung confirms participation in Bank of Korea CBDC pilot
The pilot, which began at the end of July, aims to build a platform for supporting a central bank digital currency in Korea, and is being co-managed by Kakao subsidiary Ground X.
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Here’s how Bank of Korea’s CBDC pilot is taking shape, as explained by blockchain exec
The pilot is to take part over two stages, with the initial basic testing phase set to conclude by December 2021, while the second phase is set to take place over the period to June 2022.
South Korea to launch digital currency pilot in August
Bank of Korea has opened an open bidding process as it seeks to team up with a technology supplier as it attempts to explore the feasibility of digital won.
South Korea’s Shinhan Bank trials new digital currency platform
Shinhan Bank is hoping to collaborate with the central bank with the blockchain-powered platform, in order to assist with the development and rollout of a central bank digital currency in South Korea.
Bank of Korea: Treat CBDCs as fiat, not virtual assets
The Bank of Korea has said central bank digital currencies are not virtual assets, but an alternative form of fiat currency, requiring some legal changes ahead of any future national rollout.
South Korea central bank to begin testing digital currency in 2021
The Bank of Korea will begin pilot transactions in 2021 to determine the feasibility of rolling out a digital currency system across Korea.
South Korea central bank seeks partner to build its CBDC architecture
Bank of Korea is looking for a firm to partner with on the CBDC’s second phase which involves building the infrastructure.
Korean central bank launches blockchain and AI department
Bank of Korea is seeking to step up its digitalization efforts with the launch of a new department that will focus on blockchain and artificial intelligence.
South Korea assembles advisory group to prepare for digital won
The panel will decide which laws may need to be amended to guarantee a smooth launch of a South Korean CBDC.
Bank of Korea eyes CBDC amid improving blockchain tech
Developments in payment settlements were pushing central banks towards taking a more serious look at digital currencies.
Bank of Korea working on blockchain for issuing bonds
The South Korean central bank has reportedly been working on a pilot for a system that would issue and record bonds on a blockchain.
Central bank digital currency could harm South Korea’s financial system
A report by the Bank of Korea pointed out that introducing a CBDC would lead to a decline in commercial banks’ demand deposits, causing a cash shortfall.