Tech giant Samsung Electronics has partnered with the Bank of Korea to conduct research on a central bank digital currency (CBDC) for offline payments. The latest collaboration aims to test the potential of South Korea’s CBDC for remittances and payments using NFC on Samsung mobile devices rather than the internet.
Samsung is also reportedly involved in the Bank of Korea's 10-month second phase of CBDC simulation experimental research, which involves retail CBDC. The first phase of the Bank of Korea's CBDC research tested the basic functions of CBDC such as issuance, distribution and redemption. (Cointelegraph)