Taiwan’s central bank president plans to utilize blockchain

Taiwan’s central bank is promising to explore how blockchain technology may help improve its operations.

In a brief speech at his inauguration ceremony Monday, Yang Chin-long, the new governor of Taiwan’s central bank, said his agency will pay closer attention and remain to be open-minded to the rapid development of financial technology, including big data and distributed ledger technology.

Yang further acknowledged that such emerging technology, while not having a material impact on Taiwan’s existing financial system yet, will nonetheless reshape the island’s currency policy and its payment industry.

He went on to comment that during his tenure, the central bank will eye utilizing the blockchain to improve the security and efficiency of Taiwan’s electronic payment system.

Write: Richard Abermann


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