The Central Bank of South Korea (BOK) announced the successful completion of the first phase of the two-stage test of the digital central bank currency (CBDC) feasibility.
SHIT, January 24 in his statement on two-stage digital central bank money (CBDC) of the project test August launched in the of the first phase December per month has been successfully completed announced. In the report shared on the bank’s official website, in the first stage, which took place in a cloud-based environment, the CBDC’s production, publishing and distribution where its basic functions, includingworking normally” took place.
To confirm whether CBDC will actually work that effectively do more experiments BOK said in a press release that it should second stage related to;
During the second phase of testing, we will confirm the operation of various functions such as offline payments and the implementation of new technologies to strengthen personal information protection.
made statements.
bank this year. June scheduled for completion in of the second stage next comprehensive assessment of the project. will make. Also the bank Continuing usability experiments of the CBDC in collaboration with financial institutions is planning.