{"id":47736,"date":"2021-08-16T11:29:40","date_gmt":"2021-08-16T08:29:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47736"},"modified":"2025-09-01T22:51:33","modified_gmt":"2025-09-01T19:51:33","slug":"samsung-to-test-the-digital-won-on-its-galaxy-smartphones","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/samsung-to-test-the-digital-won-on-its-galaxy-smartphones\/","title":{"rendered":"Samsung to test the digital won on its Galaxy smartphones"},"content":{"rendered":"<p>Samsung Electronics will participate in the Bank of Korea (BoK) project to create a pilot platform for the national digital currency (CBDC), <a href=\\\"https:\/\/www.koreatimes.co.kr\/www\/biz\/2021\/08\/367_313360.html?gone\\\">The Korea Times<\/a> reports.<\/p>\n<p>BoK began testing the CBDC on July 28, 2021, in partnership with Ground X, Kakao&#8217;s blockchain subsidiary.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cSamsung Electronics decided to participate in the CBDC pilot project led by BoK, in which interested parties will explore practical aspects of digital currency in a test environment\u201d, \u2014 said a company spokesperson.<\/p>\n<\/blockquote>\n<p>According to him, the Kakao consortium and two Samsung technology arms will launch a pilot program aimed at \u201ctesting cross-border transfers and payments, issuing and distributing CBDC, and monitoring how this ultimately works in virtual environments.\u201d<\/p>\n<p>Samsung also plans to study the functionality of the digital won on its Galaxy smartphone lineup.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cWhether it is possible to make payments via mobile phones using digital currency without internet access or send CBDC transfers to other mobile phones and linked bank accounts \u2014 these are the two main issues Samsung is focusing on,\u201d \u2014 explained a company representative.<\/p>\n<\/blockquote>\n<p>Samsung SDS\u2019s IT division will also participate in the program. Its Escor subsidiary will oversee procedures for CBDC experiments.<\/p>\n<p>In October 2020, Samsung SDS, as part of the consortium <a href=\"https:\/\/forklog.com\/en\/news\/ey-samsung-and-line-consortium-bids-for-korea-cbdc-pilot\">submitted<\/a> an application to the central bank to test the digital won.<\/p>\n<p>The process of selecting a technology partner to launch the BoK&#8217;s CBDC <a href=\"https:\/\/forklog.com\/en\/news\/south-koreas-central-bank-begins-search-for-technical-partner-to-launch-cbdc\">began in May<\/a>. From <a href=\"https:\/\/forklog.com\/en\/news\/media-bank-of-korea-receives-three-bids-to-participate-in-cbdc-launch\">three applications<\/a> received, the regulator chose Ground X, whose blockchain platform Klaytn will form the basis for the CBDC structure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Samsung Electronics will participate in the Bank of Korea&#8217;s project to create a pilot platform for the national digital currency (CBDC), The Korea Times reports.<\/p>\n","protected":false},"author":1,"featured_media":47737,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,1585,974],"class_list":["post-47736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-samsung","tag-south-korea"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=47736"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47736\/revisions"}],"predecessor-version":[{"id":47738,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47736\/revisions\/47738"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/47737"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=47736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=47736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=47736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}