South Korea has initiated a nationwide trial for central bank digital currency (CBDC). Selected businesses and consumers will participate in this experiment, providing insights into digital currency usage. The trial period will run from April 1 to June 30, during which transaction speed, security, and customer responses will be monitored.

CBDC Trial Details

Among the businesses participating in the nationwide initiative is 7-Eleven, which is testing payments made with digital currency. As part of this initiative, a 10% discount will be applied to every transaction made with CBDC in stores. This discount aims to increase participation in the new payment system and gather feedback regarding the experience.

“We foresee digital payment solutions playing a significant role in retail transactions in the future. Our aim is to facilitate customer shopping experiences by being at the forefront of technological advancements.” – Moon Dae-woo (7-Eleven’s digital innovation department)

Growing Interest in Digital Currency

The trial program includes not only 7-Eleven but also various other businesses such as coffee shops, grocery stores, K-pop merchandise outlets, and online ordering platforms. This diverse range of sectors can provide significant data to assess the potential applications of digital currency across various fields.

The test is conducted with the support of major financial institutions such as the Bank of...