Samsung Creates Cryptocurrency for South Korea

Since last month, Bank of Korea announced that it will move on creating and issuing a blockchain-based digital currency. As known from Reuters, the main technological partner in this project will be Samsung.

The most important part in preparing a CBDC is the testing and experiments that will be conducted. This will ensure the functionality of the system and the transactions’ safety, which is the most important part in this case.

Samsung’s part will focus on the system’s capability to conduct transactions without Internet usage and remittance allowances through mobile phones, even through different bank accounts.

We wait the next moves with more interest.