Money
Bank of Korea pilots central bank digital currency
The Bank of Korea is piloting a central bank digital currency, or CBDC, through the Samsung Galaxy smartphones
The Bank has announced it would hold a bid to select its technology supplier for the CBDC back in May.
And after consideration, it awarded the contract to Ground X, whose Klatyn platform will host the CBDC.
The pilot program aims to see whether it is possible to conduct payments via the mobile phones, using the digital currency with no internet availability.
The Bank of Jamaica also recently revealed plans to do something similar.
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