SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s central bank, in coordination with the government and the country’s largest lenders, is preparing to test the use of central bank digital currency (CBDC) for distributing public subsidies, a move officials say could curb misuse and improve accountability. According to financial industry sources, the six major banks [...]
SEOUL, May 16 (Korea Bizwire) — Samsung Electronics Co. and the Bank of Korea (BOK) on Monday signed an agreement to advance technology related to the offline central bank digital currency (CBDC) currently under development. In the previous year, Samsung participated in the central bank’s second phase of the CBDC mock test research. As a [...]
SEOUL, Nov. 7 (Korea Bizwire) — The Bank of Korea (BOK) said Monday it has found some technical “restrictions” standing in the way of the introduction of a central bank digital currency (CBDC) as it has completed a mock test on the feasibility of the new form of money. The BOK launched the two-phase mock [...]
SEOUL, Jan. 24 (Korea Bizwire) – The Bank of Korea (BOK) said Monday it has successfully completed its first phase of a two-step mock test of the feasibility of a central bank digital currency (CBDC) as it is reviewing whether to introduce the potential new form of money. The BOK launched the first phase in [...]
ST PETER PORT, Guernsey and NEW YORK, Nov. 1 (Korea Bizwire) — The reason why Global Telephony Provider Webtel.mobi’s (“WM’s”) System is not a competitor to existing products or services of other entities, is because it is not a product or service itself. It is a System. A System has within it hundreds of products [...]
ST PETER PORT, Guernsey and NEW YORK, Oct. 29 (Korea Bizwire) — Since completing its refined Platform 2 in late 2021, Global Telephony Provider Webtel.mobi (“WM”) has been preparing to focus its attention primarily on global expansion in 2022. This global expansion will be implemented by WM’s appointment of multiple marketing companies that have marketing [...]
NEW YORK, Oct. 28 (Korea Bizwire) — Although 2021 has seen increased activity in the field of international discussion and planning in respect of CBDC development, the discussions and views are both diverse and divergent from each other. There is no central guiding point, and there are significant differences of opinion between the end-aims and [...]
ST PETER PORT, Guernsey and NEW YORK, Oct. 27 (Korea Bizwire) — Although the Global Telephony Provider Webtel.mobi (“WM”) is most widely known as the company that developed the world’s first Globally Valid Digital Currency (the “TUV”) and Global Clearing System, it remains at its core a Telephony Company. Moreover, WM’s Artificial Intelligence Complex Adaptive [...]
ST PETER PORT, Guernsey and NEW YORK, Oct. 25 (Korea Bizwire) — Currently, discussions, workgroups, task forces and a wide array of organizations worldwide are discussing and working on the creation of either Globally Valid Digital Currencies or CBDCs. These entities have been having these discussions for almost 10 years now – without any concrete [...]
ST PETER PORT, Guernsey and NEW YORK, Oct. 20 (Korea Bizwire) — In order for a proposed CBDC or other Global Digital Currency to function as a globally acceptable medium of exchange – as opposed to being just an internal mechanism within a country – there will first have to be global agreement among countries [...]