Today the winner of the Bank of Korea central bank digital (CBDC) currency tender was announced as Ground X, the company that founded the Klaytn public permissioned blockchain.
Ground X is the blockchain subsidiary of Kakao, Korea’s largest social network. The company will work with other subsidiaries Kakao Pay and Kakao Bank on the CBDC simulation for a digital won with a budget of up to Won 4.96 billion ($4.4 million).
In terms of technology, the Klaytn blockchain created by GroundX is derived from Ethereum, and Ground X recently partnered with Ethereum development house ConsenSys to build a private blockchain for CBDC work. ConsenSys is working on multiple CBDC projects including in Thailand, Hong Kong, France, and Australia.
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