AIIT ONE takes first step towards issuing Saudi central bank digital currency and Middle East regional currency...to execute PoC

Web 3.0 specialist company AIIT ONE (Representative Lee Jin-yeop) held a digital currency (CBDC) issuance meeting with the Saudi Arabian Central Bank, and is planning a technical meeting in the future.
I decided to try again. In addition, we are also working on a PoC (Poof of Interest) to create a digital currency in the Riyadh region, the capital of Saudi Arabia.
The company announced that it is currently in discussions regarding a concept/proof of concept. AIIT
ONE held SAUDI with the Saudi Central Bank in Riyadh on the 17th of last month.
We had discussions like this at a meeting with PAYMENTS officials, and recently decided to implement the plan.
Detailed initial PoC work has begun. After the first meeting, both sides will use the coin as Saudi regional currency, △SAUDI
PAYMENTS and linked PoC, △CBDC and token securities (STO) simultaneous compatible platform, △Saudi Arabia Block
Cooperation in the blockchain fintech field is being accelerated, including the creation of chain clusters. The PoC carried out by AIIT ONE includes △manufacture, △issuance, △collection, △distribution, etc. of digital currency.
It will include operational verification of the entire process. SAUDI PAYMENTS is a subsidiary of the Saudi Central Bank and a company that provides payment and financial standardization technology within Saudi Arabia.
AIIT ONE is particularly modeled after the Dongbaekjeong project, which is the local currency of Busan City. Based on this, we proposed the creation of ``Riyadh Coin,'' a local currency for Riyadh.
AIIT ONE is already based on Hyperledger Fabric, developed by IBM and operated by Linux.
Fabric)-based blockchain solution.
The fact that the two companies have technology that can process blockchain data at the fastest speed in Japan is also an opportunity to speed up cooperation between the two companies.
It became an opportunity. If the PoC is successful and this agreement is reached, it will be the first time that a Korean-style digital currency model is integrated overseas. With this as an opportunity, AIIT
ONE also plans to submit proposals to build CBDCs in Egypt, India, and other countries. Middle East Investment Chair and AIIT
ONE Chairman Bruce JEONG said, ``The Saudi side highly praised AIIT ONE's reference for developing a multi-blockchain core for the first time.
"I would like to visit Saudi Arabia again in early November and prepare concrete cooperation plans."