“Samsung” is exploring the launch of a central digital currency in cooperation with the Bank of South Korea, where it signed a memorandum of understanding with the Central Bank of Korea to conduct technical research on digital currency.
“Samsung” indicated that such a digital currency, which will be issued by a central bank, will work "offline" and can be sent between holders of its Galaxy smartphones and smart watches thanks to a secure chip in the devices.
According to Samsung, payments can be made between devices through the use of Near Field Communication technology, built into smartphones to enable contactless payments. It revealed the development of a solution that applies NFC technology to "central digital currencies" last year, which allowed users to make payments even when they do not have an internet connection.
Source (Al-Arabiya.net Website, Edited)
