Samsung Partners With the Bank of Korea on CBDC Research for Offline Payments

Samsung Teams Up with Bank of Korea to Research Offline Digital Currency for Convenient Transactions

Samsung Electronics, a leading technology company, has teamed up with South Korea's central bank, the Bank of Korea (BOK), to research digital currency that can be used for offline payments. They recently signed an agreement to work together on this project.

The main focus of their research is to explore how the digital currency issued by the central bank can be used for transactions without requiring an internet connection. Instead, they want to use a technology called near-field communication (NFC) on Samsung mobile devices to make payments and send money.

Samsung has already been involved in the BOK's previous research on digital currency. They were part of a simulation experiment that looked at how people could use the currency for everyday purchases. This new collaboration will take their research a step further by testing the currency's potential for remittances and offline payments.

The partnership is also significant because Samsung is known for its advanced security technology. They plan to apply their expertise in security to ensure the digital currency is safe and protected.

It's important to note that Samsung recently introduced a policy banning the use of certain artificial intelligence tools by their employees. This decision was made after a sensitive code was uploaded to their platform. Samsung is now reviewing its security measures to create a secure environment for using artificial intelligence tools more effectively.

This collaboration between Samsung and the Bank of Korea will contribute to the development of offline digital currency technology. It has the potential to make transactions easier and more convenient, even without an internet connection. 

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