TechFlow reports, according to Cointelegraph, the Bank of Korea (BOK) said it will invite 100,000 South Korean citizens to use deposit tokens to purchase goods as part of a central bank digital currency (CBDC) pilot.
The trial will begin "around September to October 2024" and last for three months.
Participants will be limited to making payments with the CBDC and will not have the option to store, exchange, or send it to other users. The goal of this pilot phase is to evaluate the feasibility and effectiveness of currency issuance and distribution.
The Bank of Korea will also collaborate with the Korea Exchange to integrate CBDC into a carbon emission trading simulation system to test the feasibility of delivery versus payment transactions.
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