North Korea plans to launch its own bitcoin-like cryptocurrency as a way to sidestep international sanctions. The unnamed digital currency is in the early stages of development, but Pyongyang has shown interest in the sector for some time. “Developing a digital token does not require too much expertise, and for sure North Korea has enough human capital to handle this,” Tenga told VICE News. By building its own digital token, North Korea could control anonymity and access across the cryptocurrency, offering a level of privacy that cannot be gained with bitcoin, given that law enforcement has become more adept at monitoring transactions. Bitcoin was created by an anonymous person or group known only as Satoshi Nakamoto.
North Korea plans to launch its own bitcoin-like cryptocurrency as a way to sidestep international sanctions. The unnamed digital currency is in the early stages of development, but Pyongyang has shown interest in the sector for some time. By building its own digital token, North Korea could control anonymity and access across the cryptocurrency, offering a level of privacy that cannot be gained with bitcoin, given that law enforcement has become more adept at monitoring transactions. Bitcoin was created by an anonymous person or group known only as Satoshi Nakamoto.