Bank AI

As per the Bank of Korea, citizens will only be able to use digital won to buy selected goods.
<a href="https://crypto.news/tag/south-korea/" target="_blank" rel="noopener noreferrer nofollow">South Korea</a> is gearing up to launch its first pilot of a central bank digital currency (<a href="https://crypto.news/tag/cbdc/" target="_blank" rel="noopener noreferrer nofollow">CBDC</a>) with 100,000 citizens in late 2024, the South China Morning Post <a href="https://www.scmp.com/tech/policy/article/3242668/south-korea-begin-digital-currency-pilot-late-2024-100000-citizens-joining-experiment" target="_blank" rel="noopener noreferrer nofollow">reports</a>.
The pilot, which is a joint effort of the Bank of Korea, Financial Services Commission and Financial Supervisory Service, will allow selected citizens to buy goods with digital won for three months. However, participants of the pilot won’t be able to use CBDC solely for its designated payment purposes, the report notes. Other payments, including personal remittance, will not be permitted either.
You might also like: <a href="https://crypto.news/south-korean-exchanges-double-market-share-in-2023/" rel="noopener noreferrer nofollow"> South Korean exchanges double market share in 2023 </a>
With the pilot, the South Korean authorities want to evaluate the feasibility and effectiveness of CBDC. To do this, the central bank will collaborate with the Korea Exchange, the country’s sole securities exchange operator, to integrate the CBDC into a simulation system for carbon emissions trading. This will include testing the feasibility of delivery versus payment transactions between carbon emissions rights and the payment tokens.
As crypto.news earlier <a href="https://crypto.news/south-korea-to-pilot-wholesale-cbdc-with-commercial-banks/" target="_blank" rel="noopener noreferrer nofollow">reported</a>, South Korea is actively seeking a way to replace crypto with its own controlled digital solutions as Koreans are “widely known for their active involvement in crypto trading,” the Bank of Korea said at the time. Furthermore, there exists an active interest and significant investment in the field of blockchain technology from both large scale enterprises and start-ups, the regulator added.
You might also like: <a href="https://crypto.news/south-koreas-democratic-party-requires-parliamentary-candidates-to-reveal-crypto-holdings/" rel="noopener noreferrer nofollow"> South Korea’s Democratic Party requires parliamentary candidates to reveal crypto holdings </a>

South Korea to pilot CBDC with 100k citizens in late 2024

crypto.news

2023년 11월 24일에 게재된 다른 기사

OQtima Exchange Review: Making Trading Simple

Chinese Factories Repurpose GeForce RTX 4090 Graphics Cards for AI Workloads Amidst Nvidia Ban

ELYSIA (EL) Price Prediction 2024, 2025, 2030, 2040, and 2050

Breakout Alert! ADA Price Tops $0.40, Here’s The Next Target!

Binance case: CZ Finally Breaks Silence!

Will Binance Deal Start a New Rally in Bitcoin? Matrixport Evaluated!

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!