Samsung to research South Korea’s CBDC for offline payments
The collaboration will have both parties researching the offline capabilities of the CBDC issued by South Korea’s central bank. Tech giant Samsung Electronics has reportedly partnered with the South Korean central bank to conduct research on central bank digital currency (CBDC) for offline payments . On May 15, South Korea’s central bank — Bank of Korea (BOK) — and Samsung signed a memorandum of understanding (MoU) for research on offline CBDCs, according to local media KBS World. The collaboration will have both parties researching the offline capabilities of CBDC issued by South Korea’s central bank. Samsung had also participated in the second phase of BOK’s 10-month CBDC simulation experiment research work, which dealt with retail CBDCs. The first stage of BOK’s CBDC research tested basic functions such as CBDC’s issuance, distribution, and redemption. Samsung Electronics and Bank of Korea sign a MoU for CBDC research on offline payments. Source: samnews24.com The latest MOU is...