Taiwan start (CBDC) research in 2020 and today the central bank of Taiwan has completed a feasibility study for central bank digital currency (CBDC).

On Dec. 7. Deputy Governor Mei-Lie Shu says in her speech on banking event that she saw the advantages of (CBDCs) and tokenization.

„Central bank currency can serve as the operational basis for tokenization.“

Taiwan central bank has tested a pilot project with consumers and five commercial banks. The goal is to approach to further development of (CBDC) with no timeline for a decision says Mei-Lie Shu.

Regarding (CBDC) research Fubon bank has join forces with Ripple and Hong Kong Monetary Authorities in a pilot project using Hong Kong’s e-HKD (CBDC).

„But the results of CBDC showed that the application of distributed ledger technology (DLT) had its own limits. In particular, it could not achieve efficacy in dealing with real-time, high frequency, and large-volume payment transactions“.

As many central banks referred to Bank of International Settlements research on (CBDC) we may see more (CBDC) planning and research next year.