The Ceral Bank of Taiwan has announced that it does not have a specific timetable for the launch of the national digital currency. This financial institution emphasized in a report to the parliame that the process of issuing such a currency will be very extensive and complicated. However, the Ceral Bank of Taiwan will hold hearings next year to inform and educate the public about this issue.
According to Tekna Media’s digital currency news service, the Ceral Bank of Taiwan is currely developing a pilot project to launch a governme-managed digital currency. This project is designed to facilitate digital paymes for citizens through electronic wallets without the need for credit or debit cards.
The report preseed to the Parliame states: “Although the Ceral Bank does not currely have a specific schedule for the release of the Ceral Bank’s digital currency, through coinuous research and testing, it is always improving processing efficiency and innovation in the field of payme system applications.”
The report also pois out that the promotion of ceral bank digital currency is a huge and complex project that requires long-term implemeation. According to a study published in March, 134 couries, represeing 98 perce of the global economy, are currely considering and evaluating the possibility of issuing digital versions of their national currencies. The results of this study show that more than half of these couries are in advanced stages of developing, piloting or launching digital currency.
Propones of digital currencies believe that these types of currencies provide the possibility of benefiting from new financial capabilities and are an efficie alternative to physical cash. Despite this, concerns about the possibility of governme abuse and financial espionage through digital currencies have led to protests in some couries.
