{"id":63678,"date":"2022-06-29T16:49:53","date_gmt":"2022-06-29T13:49:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63678"},"modified":"2025-09-06T10:20:37","modified_gmt":"2025-09-06T07:20:37","slug":"taiwan-central-bank-chief-outlines-work-on-cbdc","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/taiwan-central-bank-chief-outlines-work-on-cbdc\/","title":{"rendered":"Taiwan central bank chief outlines work on CBDC"},"content":{"rendered":"<p>The Central Bank of Taiwan is still developing a national digital currency (CBDC), with no precise timetable for its release yet. This was stated by regulator head Yang Chin-long, according to <a href=\\\"https:\/\/www.reuters.com\/technology\/taiwan-cbank-says-it-is-working-digital-currency-unclear-timetable-2022-06-29\/?rpc=401&#038;\\\">Reuters<\/a>.<\/p>\n<p>According to him, the central bank has been working on a pilot CBDC project for the past two years. Its main objective, the official said, was to enable payments and settlements without using a debit or credit card.<\/p>\n<p>At a forum dedicated to digital currencies, Yang Chin-long outlined three main tasks regarding the CBDC:<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li>engaging with the public and gathering feedback;<\/li>\n<li>creating a stable system;<\/li>\n<li>establishing a legal framework for operations with the asset.<\/li>\n<\/ul>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;This will take a long time, at least two years. Then we will have to conduct testing again,\\&#8221; stressed the head of the central bank.<\/p>\n<\/blockquote>\n<p>He did not name an exact launch timeline for the CBDC, but noted that Taiwan&#8217;s residents are accustomed to paying in cash.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;We still need to move forward. After all, in the future most young people will use mobile phones, so we must think about the next generation,\\&#8221; the official concluded.<\/p>\n<\/blockquote>\n<p>Earlier BIS experts found that nine out of ten central banks around the world <a href=\\\"https:\/\/forklog.news\/v-bis-zayavili-o-vysokom-interese-tsentralnyh-bankov-k-cbdc\/\\\">\u0438\u0437\u0443\u0447\u0430\u044e\u0442 CBDC<\/a>.<\/p>\n<p>As reported in BIS&#8217;s Annual Economic Report, national digital currencies were named the foundation of future innovative monetary systems.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Taiwan&#8217;s central bank is still developing a national digital currency (CBDC), with no precise timetable for its release yet. This was stated by regulator head Yang Chin-long, according to Reuters.<\/p>\n","protected":false},"author":1,"featured_media":63679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,1203],"class_list":["post-63678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-taiwan"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63678","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=63678"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63678\/revisions"}],"predecessor-version":[{"id":63680,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63678\/revisions\/63680"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/63679"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=63678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=63678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=63678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}