S. Korea Gearing Up for Crypto-Powered Economy

South Korea is actively preparing for the possibility of launching a state-backed cryptocurrency, according to decrypt.co website.

The country seeks to join Japan, Russia, Iran, China, and other countries in the crypto marathon.

The central bank stated that it continues to research into the blockchain technology.

“We will actively engage in discussions with the Bank for International Settlements (BIS) and other international organizations, keeping an eye on CBDC development at other central banks,” the central bank stated in its report.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.