{"id":29758,"date":"2020-10-07T16:08:08","date_gmt":"2020-10-07T13:08:08","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=29758"},"modified":"2025-08-27T18:47:17","modified_gmt":"2025-08-27T15:47:17","slug":"bank-of-korea-to-launch-final-stage-of-cbdc-testing-in-2021","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bank-of-korea-to-launch-final-stage-of-cbdc-testing-in-2021\/","title":{"rendered":"Bank of Korea to launch final stage of CBDC testing in 2021"},"content":{"rendered":"<p><span style=\\\"font-weight: 400;\\\">The Bank of Korea will begin the final stage of testing its own digital currency (CBDC) next year, according to local publication <a href=\\\"http:\/\/www.koreaherald.com\/view.php?ud=20201007000809\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\"><span style=\\\"font-weight: 400;\\\">The Korea Herald<\/span><\/a><span style=\\\"font-weight: 400;\\\">, citing the regulator.<\/span><!--more--><\/p>\n<p>\\n<\/p>\n<p><span style=\\\"font-weight: 400;\\\">The pilot programme is divided into three phases. In the first phase the technology was developed; in the second, processes were analysed and external consultants were sought.<\/span><\/p>\n<p>\\n<\/p>\n<p><span style=\\\"font-weight: 400;\\\">In the third phase, the central bank will launch the digital currency into circulation.<\/span><\/p>\n<p>\\n<\/p>\n<p><span style=\\\"font-weight: 400;\\\">The pilot will run until December 2021.<\/span><\/p>\n<p>\\n<\/p>\n<p><span style=\\\"font-weight: 400;\\\">The central bank stressed that testing a digital currency does not mean the regulator plans to create a CBDC.<\/span><\/p>\n<p>\\n<\/p>\n<p><span style=\\\"font-weight: 400;\\\">Earlier, the Bank of Korea said it planned to study CBDC last year.<\/span><\/p>\n<p>\\n<\/p>\n<p><span style=\\\"font-weight: 400;\\\">In June 2020 the regulator included the digital currency in the government\u2019s economy-development programme, and also launched an advisory-legal group to assess the need for amendments to the existing legislation for the issuance of CBDC.<\/span><\/p>\n<p>\\n<\/p>\n<p><span style=\\\"font-weight: 400;\\\">For details on why central banks need their own digital currencies, read ForkLog&#8217;s exclusive.<\/span><\/p>\n<p>\\n<\/p>\n<blockquote class=\\\"wp-embedded-content\\\" data-secret=\\\"Vif5GK2Ry5\\\">\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/how-and-why-central-banks-create-digital-currencies-cbdcs\">How and why central banks create digital currencies (CBDC)<\/a><\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p><iframe loading=\\\"lazy\\\" class=\\\"wp-embedded-content\\\" sandbox=\\\"allow-scripts\\\" security=\\\"restricted\\\" style=\\\"position: absolute; visibility: hidden;\\\" title=\\\"\u00abHow and why central banks create digital currencies (CBDC)\u00bb \u2014 ForkLog\\\" src=\\\"https:\/\/u1f987.com\/exclusive\/central-bank-digital-currencies-cbdc-china-dcep\/embed#?secret=pyea3mADZ9#?secret=Vif5GK2Ry5\\\" data-secret=\\\"Vif5GK2Ry5\\\" width=\\\"500\\\" height=\\\"282\\\" frameborder=\\\"0\\\" marginwidth=\\\"0\\\" marginheight=\\\"0\\\" scrolling=\\\"no\\\"><\/iframe><\/p>\n<p>\\n<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Korea&#8217;s central bank will begin the final stage of testing its own digital currency (CBDC) next year, according to The Korea Herald, citing the regulator.<\/p>\n","protected":false},"author":1,"featured_media":29759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,974],"class_list":["post-29758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-south-korea"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=29758"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29758\/revisions"}],"predecessor-version":[{"id":29760,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29758\/revisions\/29760"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/29759"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=29758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=29758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=29758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}