According to multiple reports in the local Korean press, there’s a rumored three-way battle for the main contender in the South Korea central bank digital currency (CBDC) project. In May, the Bank of Korea launched a CBDC bidding process for a blockchain-based simulation project for the digital won. The bidding closed today. A decision is expected by the end of the month with work to start in August.
The central bank required each project to have a single primary operator. As a result, some big names are participating in a support role. The three leading contenders are rumored to be major conglomerate SK C&C, Naver, which jointly owns Line Plus with SoftBank, and social media network Kakao. GroundX is the subsidiary of Kakao that founded the Klaytn public permissioned blockchain and is working with ConsenSys for CBDC. Line Plus unveiled its CBDC solution last week.
In terms of pure blockchain experience, the Klaytn team seems to be the most experienced, although there are likely to be other considerations.
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