Taiwan’s central bank has announced that there is no set timetable for launching its digital currency （CBDC）. Despite the delay, the bank believes a digital currency would be a game-changer in payments.
Points
- No set date for Taiwan’s digital currency launch.
- Development of a pilot program for a government-run digital currency.
- Potential benefits of a digital currency for payments.
- Ongoing development and future expectations.
Taiwan’s central bank announced on Sunday that it doesn’t have a set timetable for launching a digital currency （CBDC）. The bank has been developing a pilot program for a government-run digital currency over the past four years, aimed at allowing users to make electronic payments through digital wallets without needing a credit or debit card.
Taiwan Central Bank Delays Digital Currency Launch
Despite the delay, Taiwan believes that a digital currency would be a game-changer in payments, offering greater convenience and efficiency. The central bank has been working on a pilot program that would enable users to make electronic payments using digital wallets, streamlining the payment process and reducing reliance on traditional payment methods.
Ongoing Development and Future Expectations
The central bank is continuing its research and development efforts to ensure that the digital currency meets the highest standards of security and usability. The delay in the launch indicates a cautious approach, prioritizing the development of a robust and reliable digital currency system.
Conclusion
While Taiwan’s central bank has delayed the launch of its digital currency, the ongoing development of the pilot program highlights the potential benefits and importance of a CBDC in modernizing the payment system. The cautious approach aims to ensure a secure and efficient digital currency that could transform the financial landscape.
解説
- Digital Currency Delay: No set timetable for the launch of Taiwan’s CBDC.
- Pilot Program: Development of a government-run digital currency pilot program.
- Benefits: Potential to revolutionize payments with greater convenience and efficiency.
- Future Expectations: Ongoing research and development to ensure a robust digital currency system.