Bank of Korea reports that central banks plan on launching their own digital currencies (CBDC)

posted 3 months ago
South Korea’s top financial institution, the Bank of Korea, released its analysis on central bank digital currencies (CBDC). The report indicates that central banks around the world are moving towards CBCDs due to advancements in blockchain technology.

According to the report, titled “Overseas CBDC Progress Report”, South Korea’s central bank conducted research and analysis on the CBDC projects of 14 central banks and found a decline in the use of fiat currency, and an adoption of distributed ledger technology (DLT) in payment settlement processes, and these are major factors driving the development of CBDCs.
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