Taiwan CBDC Tracker

CBDC Information

Economic Information

Monetary Base

$192,684,490,996

Cash Issued

$106,432,805,251

GDP

N/A

Country Information

Freedom Rankings

Cato and Fraser Human Freedom Index:

8.56/10

Freedom House Index:

9.4/10

Reporters Without Borders Freedom Index:

7.55/10

Taiwan is in the pilot phase. According to Reuters, Taiwan’s central bank has been working on a pilot for a CBDC since 2020. However, Central Bank of the Republic of China governor Yang Chin-long said the timetable was unclear at the time. He also said that even though they had been working on a pilot in the closed, experimental environment, the central bank still needs to win public support, ensure the system’s stability, and build a legal framework. In 2022, governor Yang Chin-long updated the public during a speech in which he explained that distributed ledger technology was not yet efficient enough to be used at scale.

Taiwan earned a 94 out of 100 in Freedom House’s 2023 Freedom in the World report. There have been reports of issues around the treatment of human rights and civil liberties, but most of those issues do not tie directly into the issuance or use of a CBDC. Even then, however, it’s important to recognize that the creation of a CBDC could open the door to risks to financial privacy and financial freedom.

For additional information on concerns regarding violations of human rights and civil liberties, see the following reports by Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State. For additional information on concerns regarding the risks of CBDCs, see the following webpage and report by the Cato Institute: The Risks of CBDCs and Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths.

For additional information regarding metrics, the methodology page explains each of the data points and provides their respective sources.