3/16/2024 0 Comments South korea currency![]() ![]() ![]() Ground X is a subsidiary to Kakao, that launched its own blockchain Klaytn in 2018, on which it stores and verifies unlisted investments as non-fungible tokens. BOK reported in late July that they had picked the company Ground X as preferred bidder for technical partner, with Naver remaining positive for another chance to bid. The budget for the testing is 5 billion KRW (approx. There is no time plan for commercialization. The testing process started in 23th, August 2021 and continue to the end of June 2022. The object of this procedure is first to test if CBDC works as a currency, and then plan for commercial use. The Bank of Korea (BOK) which is the center of the financial head spot in South Korea announced in May 2021 their intent to launch CBDC simulation testing for technical feasibility testing of basic functions and applicability. Since South Korea is tech leader, its government has planned to try Central Bank Digital Currency project. Central Bank Digital money is one of the hot topics as well in the digital transformation. various kinds of digital money has issued everywhere. ![]()
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