Taiwan's new central bank chief said the bank is open to adopting new technology such as the blockchain to improve the functioning of the financial system.
In his inaugural speech, Yang Chin-long said the central bank will adopt "artificial intelligence technologies and big data analysis to better predict and analyze global economic conditions."
The bank welcomes innovations and is interested in studying how fintech development could reshape the future of the whole financial industry, he added. Further, Yang said his bank will explore the blockchain distributed ledger technology, which underlies cryptocurrencies such as Bitcoin, to know its effectiveness in increasing the security and efficiency of payments.
Taiwanese authorities have been open to blockchain and cryptocurrencies, a stance that contrasts with the stringent regulations in China and South Korea such as a ban on initial coin offerings.
In October last year, Taiwan's Financial Supervisory Commission Chairman Wellington Koo had said his country would take a friendlier approach to the cryptocurrency industry and blockchain to encourage their adoption and development.
For comments and feedback contact: editorial@rttnews.com
Technology News
December 26, 2025 08:42 ET Third quarter economic growth data from some major economies including the U.S. were the main news in this holiday shortened week. GDP growth and industrial production data from the U.S. helped to boost morale, while the consumer confidence survey results were less upbeat. In Europe, the quarterly economic growth data from the U.K. drew attention, while the minutes of the Australian central bank’s latest policy session was in focus in Asia.