|Table of Contents|

Problems and countermeasures in central bank digital currency research and development process(PDF)

《长安大学学报（社科版）》[ISSN:1671-6248/CN:61-1391/C]

Issue:
2023年04期
Page:
31-43
Research Field:
国际经济与贸易
Publishing date:

Info

Title:
Problems and countermeasures in central bank digital currency research and development process
Author(s):
HU Shi
School of Finance, Dongbei University of Finance and Economics, Dalian 116025, Liaoning, China
Keywords:
CBDC;  developed economy;  emerging economy;  China’s digital yuan;  financial figures
PACS:
F821
DOI:
-
Abstract:
Abstract: In order to analyze the problems existing in the research and development processof digital currencies, this paper summarizes relevant materials and data about the CBDC research and development process of both developed economies, such as United States and Japan, and emerging economies, such as Cambodia and the Organization of Eastern Caribbean States. After comparative analysis, it is found that, emerging economies actively promote the issuance of CBDC with the aim of providing more citizens with financial services and realizing financial inclusion, but developed economies behave comparatively more conservative and slow in the attitudes and activities towards CBDC issuance. Developed economies pay more attention to the formulation of domestic laws and regulations before issuance, empirical research on key technologies, and possible impacts on the financial system and the whole economy after issuance. The study concludes that the issues, such as whether CBDC should be interest-bearing and what kind of interest-bearing standard is used, the linkage between the central bank digital currency and the central bank’s balance sheet, the economic mechanism of using different forms of the CBDC for settlement, the protection of personal privacy and the compliant use of information, anti-money laundering and the fight against terrorist financing, need to be resolved in the process of issuing the CBDC in the future. The study suggests that the People’s Bank of China(PBOC)should plan ahead for digital RMB interest accrual through empirical research, examine the financial risks faced by digital RMB based on its balance sheet, adequately assess and analyze the impact of using digital RMB settlement on the economy, insist on the simultaneous management of privacy and security of the digital RMB, and actively participate in the development of international standards and common rules for CBDC around the globe.

References:

[1] 明元鹏,陈伟光.私人数字货币与央行数字货币的关系解构[J].南开学报(哲学社会科学版),2023(4):32-45.
[2]程雪军.央行数字货币对商业银行的影响与回应[J].当代经济管理,2022(4):88-96.
[3]王博,赵真真.央行数字货币对支付体系的影响研究[J].广东财经大学学报,2023(1):62-74.
[4]巴曙松,姚舜达.央行数字货币体系构建对金融系统的影响[J].金融论坛,2021(4):3-10.
[5]程雪军.区块链技术驱动下私人数字货币的发展风险与系统治理[J].深圳大学学报(人文社会科学版),2022(3):62-73.
[6]胡继晔.虚拟数字货币监管与立法前瞻[J].人民论坛,2021(10):88-91.
[7]BIS SPEECH.Central bank digital currencies:putting a big idea into practice[R/OL].(2021-03-31)[2022-05-03].https://www.bis.org/speeches/sp210331.pdf.
[8]長内智,中田理惠.中央銀行デジタル通貨の新展開と日本への示唆[EB/OL].(2022-01-13)[2022-10-10].https://www.dir.co.jp/report/research/capital-mkt/securities/20220113_030099.html.
[9]リネットジャパングループ株式会社.カンボジアでネット銀行参入を目指し、フィンテックベンチャーのソラミツ社と合弁会社設立で合意[EB/OL].(2020-02-13)[2021-09-17].https://prtimes.jp/main/html/rd/p/000000049.000012285.html.
[10]EUROPEAN CENTRAL BANK.Eurosystem launches digital europroject[R/OL].(2021-07-14)[2022-05-03].https://www.ecb.europa.eu/press/pr/date/2021/html/ecb.pr210714～d99198ea23.en.html.
[11]FEDERAL RESERVE BANK OF BOSTON.The Federal Reserve Bank of Boston and MassachusettsInstitute of Technology release technological research on a central bank digitalcurrency[EB/OL].(2022-02-03)[2022-10-12].https://www.bostonfed.org/news-and-events/press-releases/2022/frbb-and-mit-open-cbdc-phase-one.aspx.
[12]日本銀行.中央銀行デジタル通貨に関する日本銀行の取り組み方針[EB/OL].(2022-10-09)[2022-09-30].https://www.boj.or.jp/paym/digital/rel201009e.htm.
[13]刘瑞.日本央行数字货币的制度设计及政策考量[J].日本学刊,2021(4):83-150.
[14]日本銀行決済機構局.中央銀行デジタル通貨に関する実証実験「概念実証フェーズ 2」結果報告書[R/OL].(2023-04-30)[2023-08-09].https://www.boj.or.jp/paym/digital/dig230417a.pdf.
[15]HM TREASURY.Public Policy Principles for Retail Central Bank DigitalCurrencies[R/OL].(2021-10-13)[2022-10-12].https://www.mof.go.jp/english/policy/international_policy/convention/g7/g7_20211013_2.pdf.
[16]刘晓欣.全球法定数字货币现状、发展趋势及监管政策[J].人民论坛,2021(24):66-70.
[17]汤晓阳,李琰,杨峰,等.金融学概论[M].北京:清华大学出版社,2015.
[18]INTERNATIONAL MONETARY FUND.Behind the scenes of Central Bank Digital Currency:emerging trends,insights,and policy lessons[R/OL].(2022-02-09)[2022-10-10].https://www.imf.org/en/Publications/fintech-notes/Issues/2022/02/07/Behind-the-Scenes-of-Central-Bank-Digital-Currency-512174.
[19]SVERIGES RIKSBANK.Sveriges Riksbank economic review:second special issue on the e-krona[R/OL].(2020-02)[2022-10-20].https://www.riksbank.se/globalassets/media/rapporter/pov/engelska/2020/economic-review-2-2020.pdf.
[20]黄双双,黄志刚,王姗.央行数字货币:影响及其挑战[J].广东财经大学学报,2021(5):4-15.
[21]程宇,张新建,高忠坡.货币金融学[M].北京:科学出版社,2013.
[22]山名一史.中央銀行デジタル通貨(CBDC)の論点整理[R/OL].(2021-02-01)[2021-10-01].https://www.jkri.or.jp/PDF/2020/Rep173yamana.pdf.
[23]胡施,谢庚.央行数字货币发展研究综述及展望[J].投资研究,2022(1):150-159.
[24]宋爽,刘朋辉.全球数字货币发展的最新进展与展望[J].国际金融2023(4):52-56.
[25]穆长春.DCEP以广义账户体系为基础,不会冲击现有移动支付格局[EB/OL].(2020-06-12)[2021-09-17].https://www.cebnet.com.cn/20200612/102668303.html.
[26]中国人民银行.人民银行召开数字人民币研发试点工作座谈会[EB/OL].(2022-04-02)[2022-10-12].http://wwpbc.gov.cn/goutongjiaoliu/113456/113469/4524364/index.html.
[27]杨荣海,李亚波.全球央行数字货币竞争现状与数字人民币的发展策略[J].经济学家,2023(5):46-56.

Memo

Memo:
-
Last Update: 2023-10-20