South Korea is often referred to as one of the most important regions when it comes to crypto currencies. However, it seems that the country's central bank has begun searching for and accelerating digital currencies in order not to fall behind this technological revolution.
Which Country Will Launch the First Digital Money?
In fact, not only South Korea, but many other countries, such as China, Switzerland and Tunisia, have increased interest in central bank-supported crypto currencies. It is unclear which country will launch the first full-money digital money. The Central Bank of Korea said they had started digital money research, but declined to give a precise date or percentage of development.
Trigger Effect of Libra
Libra was certainly the biggest trigger for banks to enter the digital money sector. Facebook's stablecoin project, Libra, has been perceived as a warning signal by many banks around the world and has made it clear that private companies can avoid them in terms of monetary sovereignty. South Korea, one of the rare countries in the world where crypto currencies are seriously and proportionately regulated, can be an important competitor to China in terms of digital currencies.
While China has been developing its own digital currency project for over 3 years, it is not known all of its features or its exact date of release. Officials in the first half of 2020 will support the use of digital money will open in China. Chinese MB's digital money came to the agenda with the news that it was being tested 6 days ago.
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