Yang Chin-long, new Taiwan Central Bank leader: DLT worth implementing

The Central Bank of Taiwan, an island state across the strait from China, has a new leader whose policy towards blockchain can be called positive. This is directly confirmed in Yang Chin-long’s speech where he mentions blockchain innovations - or, as he prefers to call it, the “decentralized ledger technology”.

In fact, the distributed ledger is only one component of the blockchain, as pointed out by the vast blockchain alliance R3 which prefers to be mentioned as the community working on DLT.

Unlike China, the potential adversary on the mainland, Taiwan has warmer feelings towards the cryptocurrency market, as seen in the older reports by Bitnewstoday. For example, when China banned ICOs, Taiwan did not follow in the footsteps of the neighbor and the local businessmen expressed doubts in the necessity of such strict regulations.

Both countries are evaluating the capabilities of blockchain technologies and do not intend to prohibit them in any way. The People’s Bank of China or the PBoC has even voiced the intentions to include blockchain technologies in the next five-year plan last year.

Image courtesy of Imaginechina