Bank of Korea launches the digital innovation department that will use blockchain and artificial intelligence to improve efficiency. The opening of the department is scheduled for the second half of this year.
The bank plans to implement a number of different technologies, such as artificial intelligence and blockchain, through the digital innovation department. The department will carry out tasks such as implementing new digital policies and expanding the latest digital infrastructure.
Earlier it was reported that the Bank of Korea was exploring the possibility of using blockchain technology for the bond market. The government, in its turn, announced that it is intended to allocate $3.20 mln to promote blockchain-related innovations.
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