Bank of Korea signs contract with Ground X for CBDC pilot
Kakao’s blockchain subsidiary will conduct R&D with consortium
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임준혁 2021년 7월30일 12:00
한국은행. 출처=김병철/코인데스크코리아
The Bank of Korea. Source: CoinDesk Korea

On July 28 the Bank of Korea (BOK) finalized its contract with Ground X, the blockchain subsidiary of mobile platform Kakao, for its central bank digital currency (CBDC) pilot test.

Ground X was one of three competing firms in the bidding process, alongside Line Plus and SK C&C.

Ground X has formed a consortium to conduct R&D work on the pilot. The consortium includes the likes of blockchain software developer ConsenSys, consulting firm Samjong KPMG, and Onther, developer of the layer 2 platform Tokamak Network. Onther will focus on scalability and maximizing the network's transaction-per-second (TPS) capacity.

Ground X and the BOK are expected to begin R&D work on the CBDC pilot on Aug. 23.

The BOK has stated, however, that the pilot test’s main purpose is research and that it does not guarantee CBDC adoption.

한글기사: 한은 디지털화폐 모의실험...그라운드X와 연구 계약

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