Tech giants “Samsung” and “LINE”, as well as the South Korean branch of consulting firm “Ernst & Young”, were the first to apply to the government’s bid to design and test digital won. The bid was prolonged until October 29; if no other party participates, the aforementioned companies will be developing digital won’s technical architecture until the pilot ends in December 2021.
As the Bank of Korea is still undecided, stating it will rely on the pilot results in order to launch digital won, we in Ternion are sure the project will be a useful experience for the crypto industry in terms of CBDCs integration into the global market.