United

Bank AI

Banca

<p class="p1" style="text-align: justify">Banca d’Italia, Italy’s central bank, announced through official channels on December 5th that it has signed a preliminary agreement with the Bank of Korea, South Korea’s central bank, on payment systems. According to the Italian central bank, the preliminary agreement was signed for mutual information and communication <a href="https://newslinker.co/category/technology/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">technology</a> (ICT) sharing.</p>
<h2 class="p1" style="text-align: justify" id="italy-and-south-korea-take-a-critical-step">Italy and South Korea Take a Critical Step</h2>
<p class="p1" style="text-align: justify">The agreement signed between Banca d’Italia and the Bank of Korea is based on ICT topics related to real-time payment systems and central bank digital currencies (CBDC). Luigi Federico Signorini, the Director General of Banca d’Italia, also attended the public meeting and signed the agreement.</p>
<p class="p1" style="text-align: justify">Both countries have taken notable steps regarding CBDCs throughout the past year, albeit with different approaches. Banca d’Italia continues to conduct research and studies on distributed ledger technology (DLT) based transactions through hash-linked contracts, rather than adopting a CBDC approach under the framework of the European Union like other European countries.</p>
<p class="p1" style="text-align: justify">Additionally, South Korea has started a pilot application for CBDC infrastructure technology in October. The pilot program includes both private banks and public institutions, with technical support provided through the Bank for International Settlements. In November, South Korea announced that it would invite 100,000 citizens to the CBDC pilot test phase starting from 2024.</p>
<p><img decoding="async" class="aligncenter wp-image-284977 size-full" src="https://coin-turk.com/wp-content/uploads/2023/12/Banca-dItalia.jpg" alt="" width="800" height="400"></p>
<h2 class="p1" style="text-align: justify" id="interest-in-cbdc-projects-continues">Interest in CBDC Projects Continues</h2>
<p class="p1" style="text-align: justify">While many governments are taking steps to introduce CBDC projects, strict sanctions against cryptocurrencies continue. A German politician recently stated that the European Union is a loyal opponent of the digital euro project and believes that CBDC projects violate privacy.</p>
<p class="p1" style="text-align: justify">In the United States, many well-known individuals in their respective fields have opposed the country’s CBDC project. According to them, CBDC projects would be like a checkmate or game over, causing significant debates within the crypto community.</p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/italy-and-south-korea-take-a-critical-step/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/italy-and-south-korea-take-a-critical-step/</a>

Italy and South Korea Take a Critical Step

Table of Contents

COINTURK NEWS

Other articles published on Dec 5, 2023

ORDI Rockets To Unprecedented Peaks Alongside Bitcoin’s $42,000 Breakthrough

BlackRock Reveals Initial Capital for Spot Bitcoin ETF: Here Are the Details!

Announcement of KAT ERC20 listing on ProBit Global

Ashtead Group Earnings: 16% Revenue Jump to $5.57B

2024 Altcoin Predictions: Chainlink Community Counts Down to Bull Season

Top 5 Tips For Newbie Bitcoin Investors: Here’s What You Need To Know

Join our free newsletter for daily crypto updates!