{"id":4726,"date":"2023-05-15T09:28:40","date_gmt":"2023-05-15T13:28:40","guid":{"rendered":"http:\/\/leadingcryptonews.com\/samsung-to-research-south-koreas-cbdc-for-offline-payments\/"},"modified":"2023-05-15T09:28:40","modified_gmt":"2023-05-15T13:28:40","slug":"samsung-to-research-south-koreas-cbdc-for-offline-payments","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/samsung-to-research-south-koreas-cbdc-for-offline-payments\/","title":{"rendered":"Samsung to research South Korea\u2019s CBDC for offline payments"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div data-v-6da673f8=\"\">\n<p>Tech giant Samsung Electronics has reportedly partnered with South Korea\u2019s central bank to conduct research on central bank digital currency (CBDC) for offline payments.<\/p>\n<p>On May 15, the 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 the CBDC issued by the central bank.<\/p>\n<p>Samsung also participated in the second phase of the BOK\u2019s 10-month CBDC simulation experiment research, which concerned the retail use of CBDCs. The first stage of the BOK\u2019s CBDC research tested basic functions such as CBDC\u2019s issuance, distribution and redemption.<\/p>\n<figure><noscript><img decoding=\"async\" class=\"lazyload\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-05\/ef2f6c8f-1be9-45ed-a338-cc4afaac1967.png\" alt=\"\" title=\"\"\/><\/noscript><figcaption style=\"text-align: center;\">Samsung Electronics and the Bank of Korea sign an MOU for CBDC research on\u00a0offline payments. Source:\u00a0samnews24.com<\/figcaption><\/figure>\n<p>The latest MOU is aimed at testing the South Korean CBDC\u2019s potential to conduct remittances and payments using near-field communication (NFC) on Samsung mobile devices instead of the internet. Samsung Electronics vice president Won-Joon Choi revealed that the collaboration allowed the tech giant to apply Samsung\u2019s high-level security technology to the digital currency field. He added:<\/p>\n<blockquote><p>\u201cBased on cooperation between the two companies, We expect to be able to make a great contribution to the development of global offline CBDC technology.\u201d<\/p><\/blockquote>\n<p>As part of the collaboration, Samsung has reportedly obtained hardware certification for the security international common criteria evaluation assurance level six grade, which includes seven levels of security functional requirements.<\/p>\n<p><strong>Related: <\/strong><strong>Korean blockchain experts seek the government\u2019s help for digital asset market<\/strong><\/p>\n<p>Despite keen interest in CBDCs, Samsung recently banned employees from using generative artificial intelligence (AI) tools like ChatGPT on all Samsung-owned devices and internal networks.<\/p>\n<p>As Cointelegraph previously reported, Samsung introduced the policy after a staff member uploaded a \u201csensitive code\u201d to the platform. An internal memo addressing the matter read:<\/p>\n<blockquote><p>\u201cHQ is reviewing security measures to create a secure environment for safely using generative AI to enhance employees\u2019 productivity and efficiency.\u201d<\/p><\/blockquote>\n<p>Banking giants, including JPMorgan, Bank of America, Goldman Sachs and Citigroup, have also restricted the use of generative AI tools.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/samsung-to-research-south-korea-s-cbdc-for-offline-payments\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tech giant Samsung Electronics has reportedly partnered with South Korea\u2019s central bank to conduct research on central bank digital currency (CBDC) for offline payments. On May 15, the 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Samsung to research South Korea\u2019s CBDC for offline payments - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/samsung-to-research-south-koreas-cbdc-for-offline-payments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Samsung to research South Korea\u2019s CBDC for offline payments\" \/>\n<meta property=\"og:description\" content=\"Tech giant Samsung Electronics has reportedly partnered with South Korea\u2019s central bank to conduct research on central bank digital currency (CBDC) for offline payments. On May 15, the Bank of Korea (BOK) and Samsung signed a memorandum of understanding (MOU) for research on offline CBDCs, according to local media KBS World. 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