South Korea to pilot CBDC in three regions
The Bank of Korea is reportedly launching central bank digital currency (CBDC) pilots in three regions (Jeju, Busan and Incheon). However, details are sketchy. [Read more at Chosun Ilbo]
Tel Aviv Stock Exchange completed Project Eden proof-of-concept
The Tel Aviv Stock Exchange (TASE), in partnership with the Israeli Ministry of Finance, successfully completed Project Eden proof of concept (PoC) testing in June 2023. It tested the atomic settlement of tokenized government bonds using digital payment tokens on a blockchain-based platform. A smart contract acted as an intermediary between the issuer and the investors, ensuring the verification of valid and approved tokens, preventing inconsistencies or incomplete transfers, and guaranteeing the accurate transfer of tokens. [Read more at the TASE]
*For those interested in intra-day updates, check out my searchable Diigo Fintech developments database, which is also a good place to go to query for past developments: https://www.diigo.com/user/kiffmeister/ART.
Kiffmeister’s central bank digital currency monthly monitor
Just a reminder that I produce a monthly digest of central bank digital currency (CBDC) developments exclusively for the official sector. So (only) if you work at a central bank, ministry of finance or international financial institution (e.g., the BIS, IMF, OECD, World Bank) and who would like to receive it by email on the first business day of every month, please DM me on LinkedIn or email me at chronicles@kiffmeister.com.
The Sovereign Official Digital Association (SODA) is a technology-agnostic firm offering advisory services at the intersection of central banking, digital finance and the web3 industry, aiming to make public digital money a reality. SODA believes institutions in the existing financial ecosystem should have access to the tools and resources they need to move from discussion to action. SODA offers ‘real life’ use cases to help test digital money and drive adoption as central banks and other public institutions explore the future of a more financially inclusive world powered by interoperable blockchain-based networks. SODA would love you to join us on this journey – please get in touch (chris@sodapublicmoney.org).
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