Philippine Central Bank Governor: The Philippines may issue CBDC within two years

ChainCatcher news, according to CoinDesk, the Governor of the Central Bank of the Philippines, Eli Remolona Jr, stated that the Philippines may issue a wholesale central bank digital currency (CBDC) within two years, but does not intend to use the blockchain or distributed ledger technology that supports many virtual assets.

According to Inquirer, Eli Remolona Jr said: "Other central banks have tried blockchain, but it hasn't worked well."