Open AccessOn the Development Status and Strategy of Digital Currency of the Central Bank of China
Author(s) -
Guangxin Pan,
Tingting Guo,
Junjie Xia
Publication year - 2020
Publication title -
finance and market
Language(s) - English
Resource type - Journals
ISSN - 2424-8401
DOI - 10.18686/fm.v5i4.2967
Subject(s) - currency , digital currency , circulation (fluid dynamics) , business , china , promotion (chess) , reserve currency , informatization , foreign exchange reserves , virtual currency , financial system , commerce , foreign exchange risk , economics , engineering , monetary economics , political science , telecommunications , law , politics , aerospace engineering
With the gradual rise of financial science and technology, the traditional currency tends to be eliminated due to various limitations. Digital currency technology based on block chain technology emerges as the times require. With the gradual deepening of the research on legal digital currency by the central bank, the implementation of legal digital currency will be the inevitable choice of China’s economic development, and also the inevitable requirement of complying with the trend of economic globalization and informatization. This paper studies the development status of digital currency at home and abroad and the importance of central bank issuing digital currency, and analyzes the main causes of the risk problems of circulation environment, laws and regulations, financial system and technical system faced by the Central Bank of China in promoting digital currency, including the implementation of laws and regulations, protection of users’ rights and interests, establishment of monitoring and analysis department, promotion of digital currency, etc. This paper puts forward specific measures and suggestions for the central bank to issue digital currency.