Chairman of Taiwan's Central Bank, Yang Jinlong, emphasized that the development of central bank digital currencies (CBDCs) is not a competition. Central banks focus on steady progress rather than speed. 🏦
Program for Taiwan's digital dollar:
- The bank is testing 3 scenarios to improve domestic payment efficiency and innovation.
- An important development is the CBDC prototype platform for retail payments.
- A proof of concept for wholesale CBDC is in the works.
Tokenization technology plan:
- The central bank plans to apply tokenization technology to convert the amount of central bank currency and commercial bank currency.
- Taiwan's central bank is conducting a proof-of-concept and collaborating with participating banks to build a common platform for tokenization.
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