The timer, inventory, and position of the player all reset upon launch in the 1.16 pre-releases and release candidates.
To reproduce
Launch minecraft in the 1.16 pre-releases or release candidates while in the demo mode.
Open the world.
Either pick up an item or move your position
Close the Minecraft game engine completely
Relaunch Minecraft
→ ❌ Your inventory and position have been reset as if you had just opened the world. However, information stored in the region.mca files are still intact.
I suspect this is because the level.dat is reset upon launch.