(The Korea Times) Samsung Electronics will participate in building a pilot program for the Bank of Korea’s central bank digital currency.
Samsung will test the functionality of the CBDC with its Galaxy smartphone.
The smartphone maker will check whether it is possible to make mobile payments using digital currency without being connected to the internet.
Samsung will also test if it is possible to send CBDC remittances to other mobile phones or connected bank accounts.
BOK plans to use Ground X’s blockchain platform, Klaytn, as the platform for its CBDC structure.
BOK started the CBDC pilot on June 28, with the idea of modernizing financial systems being considered, despite Governor Lee Ju-yeol’s hard stance on crypto assets.
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