Kona I, Partners with Ground X to Participate in Central Bank Digital Currency Pilot Experiment

[Asia Economy Reporter Yoo Hyun-seok] Kona I announced on the 21st that it will participate as a partner of Ground X, Kakao's blockchain affiliate, in the Bank of Korea's "Central Bank Digital Currency (CBDC) Pilot Experiment Research" project.

In this pilot experiment, Kona I plans to provide an offline CBDC card that supports CBDC balance transfers and payments like cash through card-to-card NFC and Bluetooth methods even when the network is disconnected, based on security authentication technology.

In particular, the card is equipped with an IC chip that has obtained the highest level of international security certification currently available, and generates security keys that verify the authenticity of transactions between offline CBDC cards only within the card itself, performing electronic signatures to fundamentally block external leaks or hacking. Additionally, the product will be developed with high security and user convenience by applying a display and buttons in a credit card-sized design.

Jung Il Cho, CEO of Kona I, said, "We are pleased to participate in the Korean-style digital currency CBDC pilot experiment," and added, "We will do our best to ensure the pilot experiment is successful by collaborating with Ground X and various partners."

Meanwhile, Kona I holds the number one position in the domestic smart card market, possessing high security technology such as being the first in Korea to obtain Mastercard fingerprint card product certification and Microsoft MISA membership. In fact, last year, Kona I launched 'CryptoKona,' the first credit card-type cold wallet in Korea that can store and trade digital assets.