LINE, Nuriflex and ‘Central and South America Africa CBDC blockchain platform construction’ Signed MOU

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[Blockchain Today Reporter Seungwon Jeong] Global mobile platform service company Lineplus (CEO Eunjung Lee, hereinafter Line) is a global blockchain payment platform service company, NuriFlex Inc. (CEO, Elizabeth Park, hereinafter referred to as Nuriflex), and various regions including Latin America and Africa. Signed a MOU for the Central Bank Digital Currency (CBDC) platform business.

Through this agreement, LINE aims to provide a CBDC blockchain platform in Latin America and Africa based on LINE blockchain with Nuriflex. As a global leader in providing large data processing software platforms to electric power companies around the world, the Nuriflex Group has successfully completed projects with many countries. Based on Nuriflex’s global business know-how and LINE’s outstanding blockchain technology, LINE will develop a customized CBDC blockchain platform that fits each country’s policy and financial environment and provide it to central banks interested in CBDC.

Line’s Blockchain Lab Lead Hong-Gyu Lee said, “Line is successfully operating its own ecosystem by developing blockchain wallets and various services based on the already developed blockchain platform.” We hope to innovate the financial industry through CBDC in the region through the combination of our business experience in Africa and LINE’s blockchain technology.”

Elizabeth Park, CEO of Nuriflex, said, “The Nuriflex Group has already achieved successful business outcomes in the national power grid industry in Latin America and Africa, and is also in discussions with partners around the world to provide blockchain-based digital payment and platform services.” “The combination of Nuriflex’s experience in business development in Latin America and Africa and LINE’s blockchain technology will be a huge advantage for successful CBDC business opportunities in the region,” he said.

On the other hand, Line has its own blockchain technology that provides the settlement completion, speed and scalability that can quickly process large amounts of payments required to confirm transactions required by each central bank’s CBDC business. It operates payment and fintech services in global markets such as, Thailand, and secures experience in global financial services. Line discusses CBDC platforms with central banks in various countries and is strengthening the ability to develop stable blockchain technology suitable for CBDC required by each country.

Nuriflex is currently participating as a core technology partner of Cameroon’s national health insurance system, known as the UHC project, and plans to provide a variety of services using blockchain technology.

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