{"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":"
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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
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
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