Korea's Central Bank Considers 'Supernode' for Blockchain Oversight
The Bank of Korea is considering the creation of a 'supernode' to help mitigate privacy concerns should it seek to adopt distributed ledger technology. Published as part of an overview of the central bank's future plans, the report titled "Present Status and Key Issues of Distributed Ledger Technology" further details policy issues that it believes could hinder the growth of distributed ledgers. Notably, in a section titled "Application Plan", the report's authors include several "solutions" to four key problems recommended by the Bank of Korea, headquartered....
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Thailand is reportedly preparing to amend its law on digital assets to tighten the oversight of the crypto sector and empower the Thai central bank to oversee the sector. “Right now, the central bank has no room to enter into the regulatory framework except for notifying that cryptos are not a legal means of payment for goods and services,” said the Thai finance minister. Thai Central Bank Will Help Regulate Crypto Industry Thailand is reportedly planning to amend its law on digital assets to tighten the oversight of the crypto sector, particularly trading platforms. Thai....
South Korea’s monetary policy regulator is taking steps to create its own digital coin. Bank of Korea is now looking for a technology provider to develop a test environment for the project. The news comes after major commercial banks expressed skepticism over their cooperation with domestic cryptocurrency exchanges. Central Bank of Korea to Launch Pilot Platform for CBDC The tech supplier will be chosen through an open bidding process, Bank of Korea (BOK) announced Monday. Its task will be to set up a pilot platform for the launch of the South Korean central bank digital currency....
The Bank Of Korea has effectively concluded the pilot testing of the issuance and distribution of their digital currency. It has also gone to state that BOK will have the central bank digital currency testing program ready by June of 2022. The Bank of Korea has wrapped up the principal phase of its two-part mock […]
Samsung, the Korean tech giant, has decided to participate in a central bank digital currency (CBDC) program that is being carried out by the Bank of Korea. The company will be testing the feasibility of using these new instruments in its lineup of Galaxy phones, specifically assessing the possibility of making offline payments between peers. Samsung Participates in Korean Digital Currency Pilot Samsung, the Korean technology behemoth, has agreed to aid the Bank of Korea in running a test pilot for a central bank digital currency that will assess the feasibility of using these instruments....
Asia's reputation as an international hotspot for bitcoin news is growing. While China's central bank caused a major stir with yesterday's statement on digital currencies, South Korea's central bank, the Bank of Korea (BOK), this week provided statements of caution and optimism. The BOK released a report on bitcoin on 3rd December, according to BusinessKorea, which pondered the measures required to "open the virtual currency to the public". It may not sound like much, but the BOK had previously ruled out any possibility that bitcoin could become a regular currency. However, this report did....