HKMA Vice President: no expectation of the third phase of the digital Hong Kong dollar pilot program for the time being, before the end of next year to announce the results of the second phase

The Hong Kong Monetary Authority has announced the launch of the second phase of the Digital Hong Kong Dollar Pilot Program, which is expected to take twelve months, the Deputy Chief Executive of the Hong Kong Monetary Authority, Mr. Lee Tat Chee, said that for the time being, he did not expect that there would be a third phase, and he hoped that in the second phase, he could specifically grasp the benefits and benefits brought about by the issuance. For when to decide whether to launch the digital Hong Kong dollar, Lee Tat Chee said, can not predict when the decision will be made, depending on the results of the twelve-month test, among the problems have been resolved, there are no other issues surfaced, etc., in order to decide whether or not the launch of the digital Hong Kong dollar, frankly speaking, there is no forward-looking projected twelve months to happen. In addition, Lee Tat Chee explained that the digital Hong Kong dollar pilot program phase I and phase II of the two phases is not a screening relationship, different places are now testing digital currency, technology will continue to move forward, are providing the environment in Hong Kong to test the unknown scenarios. The HKMA plans to share the key results of the second phase with the public by the end of next year. (Hong Kong Economic Journal)