The Capital
Published in

The Capital

South Korea Plans To Test Its Central Bank Digital Currency (CBDC) On Samsung Galaxy Phones

Recently Bank of Korea announced that it would make an offer to select its technological supplier for the central bank digital currency (CBDC).

Ground X, whose Klaytn platform hosts the CBDC, won the contract despite stiff competition.

An anonymous bank executive stated that the South Korea CBDC pilot program aims to determine whether it is possible to make payments using mobile phones with digital currency but without internet access. Also, whether CBDC remittances can be sent to other mobile phone or connected bank accounts will be tested.

He further said:

“Samsung Electronics has recently decided to participate in the BOK-led CBDC pilot project, under which interested parties will research the practicalities of the CBDC in a test environment,”

The Bank of Korea’s CBDC pilot program was launched on June 28 this year, these digital payments will be tested using Galaxy mobile phones.

Originally published at on August 16, 2021.




A publishing platform for professionals in business, finance, and tech

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
The Crypto Basic

The Crypto Basic

The Crypto Basic is focused on covering the most important topics of Cryptocurrency

More from Medium


Reinventing the Wheel: Advanced Order Types for Decentralized AMMs

Why We’re Building A Cryptocurrency Network

VegaX Flash News Report: January 2022