BOK to recruit 100,000 participants for digital currency experiment

BOK to recruit 100,000 participants for digital currency experiment

The Bank of Korea (BOK) will launch a pilot for real-world transactions using its central bank digital currency (CBDC) in April, the central bank announced Tuesday. Around 100,000 participants will have the opportunity to convert their bank deposits into digital tokens for everyday transactions.

Ready to face the future and its electronic realities, South Korea has just launched a test project on a sample of 100,000 people in order to experiment with digital currency.

Bank of Korea rejects BTC reserve, announces CBDC tests

The BOK revealed that it will launch an experiment for its retail CBDC starting May, but it won't be jumping to the BTC reserve bandwagon. The post Bank of Korea rejects BTC reserve, announces CBDC tests appeared first on CoinGeek.

[Digital Daily Reporter Kwon Yoo-seung] It was revealed that the scale of use of simple payment services increased by about 10% last year. According to the 'Simple Payment and Remittance Service Usage Status' released by the Bank of Korea on the 20th, the average number of daily simple payment service usage cases and usage amount last year were 3,072 cases and 959.4 billion won, respectively, which increased by 12.3% and 9.6% from the previous …

South Korea’s Central Bank to Start CBDC Trials for Real-World Transactions: Reports

South Korea is set to begin testing the Digital Won CBDC for real-world transactions in April, according to local reports citing the Bank of Korea (BoK). The programme will evaluate blockchain technology’s role in finance while allowing the BoK to assess its potential for reshaping the country’s fintech ecosystem.South Korea is set to begin testing the Digital Won CBDC for real-world transactions in April, according to local reports citing the B…

South Korea’s Central Bank to Pilot CBDC for Transactions: Reports

South Korea's central bank is set to launch CBDC trials for real-world transactions under the “Digital Test Project Hangang,” according to local reports citing BoK officials. The three-month programme is said to involve seven banks and 100,000 participants that will be testing blockchain technology's role in finance. The BoK reportedly sees this large-scale pilot as an opportunity to assess whether the Digital Won CBDC can help reshape the count…