South Korea has launched a 22-month digital currency pilot program

According to Yonhap News Agency, the Bank of Korea launched a digital currency pilot program last month, which lasted for 22 months by the end of next year. The goal of the pilot program is to create a virtual environment to check how the central bank’s digital currency works. This year, it will focus on design, technical review, business process analysis and consulting, and the project will be implemented next year. The report quoted the opinion of a South Korean official. He said, “There is no need to issue central bank digital currency in the near future, but if internal and external conditions change, you must respond quickly.”