Samsung Electronics has confirmed its interest in a central bank digital currency (CBDC) experimental trial pioneered by the Bank of Korea (BOK).
The project was introduced by the BOK late last month and co-managed by block-chain tech company Ground X.
All parties involved in the program will “research the practicalities of the CBDC in a test environment,” according to a report by Korea Times.
Samsung wants to leverage this pilot program to test run CBDCs and the practicality of blockchain-based systems on its Galaxy smartphones.
The Electronics company intends to explore the possibility of sending “CBDC remittances to other mobile phones or to other connected bank accounts and transferring digital currencies without internet connection.