美中數位貨幣對全球金融體系的影響

The Impact of U.S.-China Digital Currencies on the Financial System

劉濬愷(Chun-Kai Liu) ； 陳智明(Chih-Ming Chen) ； 孫一雄(I-Hsiung Sun)

《全球管理與經濟》 17卷2期 (2021/12) Pp. 39-52

https://doi.org/10.6565/JGME.202112_17(2).0003

摘要

數位貨幣的發展，不論是私人數位貨幣，或採中央銀行發行的法定數位貨幣，其演變必成為未來貨幣發展主流，當大多數的發展朝『私人數位貨幣』的方向設計時，傳統商業銀行的功能面臨極大的挑戰，進而影響各國中央銀行貨幣政策（Monetary Policy），對貨幣供給、需求、利率與通膨造成不良的影響。本論文對數位貨幣的種類加以分類及定義，深入探討全球去私人數位貨幣，採用加密數位貨幣的特性、原理和技術，並搜集市場交易數據作為分析，配合各國中央銀行對未全球來數位貨幣發展的政策，進而對去私人數位貨幣替代法定貨幣的可行性進行加以分析，研判加密數位貨幣對中央銀行貨幣政策的影響。據搜集的市場數據顯示，未來區塊鏈資產的成長，會跳脫以數位貨幣取代法定貨幣的相關應用，有助於經濟及市場效率提升的相關產業，首先受到衝擊的必定是金融服務相關產業。私人數位貨幣對貨幣政策會有負面之影響，如削弱央行貨幣政策的有效性、降低央行貨幣總計數的準確性、削弱金融機構支付體系的監督能力和損害鑄幣稅收入等，但對提升貨幣流通性的效率有正面的效果。

關鍵字

數位貨幣 ； 私人數位貨幣 ； 加密數位貨幣 ； 區塊鏈

並列摘要

The development of the number of locations, whether it is a private location, or the central operation of the statutory location, the direction of the performance must become the mainstream of the development of the future, when most of the development towards the private seat In the direction of the business, the functional aspects of the business a major challenge, and the impact of monetary policy in various countries on supply, demand, interest rates and inflation caused adverse effects. This article divides and defines the types of locations, digs deep into private locations, uses the characteristics, principles, and techniques of encrypted locations, and collects market transaction according to for analysis. In line with the policies of the central governments of each country on the development of future locations, the feasibility of replacing the statutory system with private locations has been analysed and the implications of encryption locations for the central government's policies have been determined the market according to collected by the according to shows that the block chain will jump to replace the legal system with a cell, which will help to economy and improve the efficiency of the market, and the first thing that will be affected by the shock must be financial services. Going to a private location will have negative impact on policy, such as weakening the effectiveness of central bank policies, reducing the central bank's ability to supervise, weakening the ability of the financial payment system to supervise and damage harming seigniorage income, etc., but it has a positive effect on improving the efficiency of circulation.

並列關鍵字

Location ； Private Location ； Encrypted Location ； Block Chain