South Korea participates in research on central bank cryptocurrency (CBDC) along with many other countries 🌐 Bank of Korea (BOK) will initiate a pilot project, understanding the technical infrastructure for digital currency .
📌Main information:
- The CBDC pilot project was announced by the BOK, the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) on October 4.
- The project will evaluate the possibility of a future monetary system based on "wholesale CBDC".
- The trial will include private banks and public institutions, with technical support from the Bank International (BIS).
- BOK will test both retail and wholesale CBDCs.
🗣️Expert opinion:
- First Vice Chairman of FSS, Lee Myung-soon, called the pilot project a step towards a future monetary system.
Let's discuss the potential of CBDC in Korea in the comments section! 💬#CBDC#Korea#digitalcurrency
📌Main information:
- The CBDC pilot project was announced by the BOK, the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) on October 4.
- The project will evaluate the possibility of a future monetary system based on "wholesale CBDC".
- The trial will include private banks and public institutions, with technical support from the Bank International (BIS).
- BOK will test both retail and wholesale CBDCs.
🗣️Expert opinion:
- First Vice Chairman of FSS, Lee Myung-soon, called the pilot project a step towards a future monetary system.
Let's discuss the potential of CBDC in Korea in the comments section! 💬#CBDC#Korea#digitalcurrency