Based on the Impact and Challenges of the Digital Currency Issued by the Central Bank
Abstract
more and more people. From the advent of Bitcoin to the launch of Libra by Facebook to China’s voice on the central bank’s digital currency
DC / EP research, let us realize that the era of digital currency is coming. The main object of this paper is the issuance of digital currency by
the central bank, namely legal digital currency. Since the emergence of private digital currency, many problems have been exposed, and the
scope of circulation and use in the international market is also very limited, but at the same time, it has also sounded the alarm for various
countries. The issuance of legal digital currency is considered to be a good development direction and an effective way to deal with the rapid
development of digital currency. In terms of content, this paper first divides digital currencies into two categories: private digital currencies
and legal digital currencies to compare, and analyzes and discusses them in terms of their issuance mode and quantity, main use and operation
mode. Next, it discusses the risks of private digital currency from four aspects of value, security, supervision and currency, which confirms
the importance of the central bank issuing legal digital currency from the side. Then the advantages of legal digital currency are analyzed,
especially for China, the issuance of digital currency by the central bank can also help the process of RMB internationalization. Next, this pa_x005fper focuses on the four challenges that the central bank will face in the new form of digital currency, which are the challenges to science and
technology, the challenges to legal norms, the challenges to circulation and use, and the challenges to policy regulation. Finally, the future
development of the digital currency is discussed, which will change our daily payment methods and make our life more convenient.
Keywords
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DOI: http://dx.doi.org/10.18686/fm.v8i6.11739
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