X-LOG , a real-time data replication and transfer specialist, announced on the 17th that it has supplied and completed the construction of its real-time data replication solution, 'X-LOG for CDC', for the 'CBDC-based digital voucher management platform' project led by the Bank of Korea.
The 'CBDC (Central Bank Digital Currency)-based Digital Voucher Platform' is a project led by the Bank of Korea, the Financial Services Commission, and the Ministry of Science and ICT, and aims to provide opportunities to demonstrate and experience the utility of new digital currencies. This project focuses on checking whether digital currencies can be smoothly utilized by incorporating voucher functions in the education, culture, and welfare sectors.
In order to successfully promote this project, a thorough response system for disasters and failure situations is essential, and in the case of financial services, it is key to establish a non-stop operation system to secure business continuity. To respond to this, Xlog applied 'Xlog for CDC' and presented a non-stop DR (Disaster Recovery) plan optimized for cloud environments such as Shinhan Bank and IBK Industrial Bank of Korea, which are first-tier financial institutions. In addition, real-time synchronization was implemented with an active-active structure to minimize service interruptions and establish a stable recovery system.
By introducing a real-time data replication solution, the Bank of Korea has been able to strengthen the stability and continuity of financial services and promote a change in the financial paradigm in Korea based on convenient infrastructure. As a result, it is expected that the public will be able to experience the effectiveness of central bank digital currency in real life and conveniently utilize it.
Jang Seok-ju, CEO of Xlog, said, “This has become an opportunity for a domestic company’s technological prowess to be recognized in the financial sector, where foreign solutions have dominated the market,” and added, “Starting with the application of this year to the period systems and Tier 1 work of first-tier financial institutions, we will actively pursue our goal of taking first place in the financial market share.”
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