各國發行央行數位貨幣之策略-中國與瑞典個案研究

第二次世界大戰後，美國透過掌握了國際貨幣的清算系統，形成美元霸權。2008年金融海嘯後，各國對美國濫用美元的國際信用感到反感，進而開始反抗美元霸權，以國家為主的反美元霸權是各國進行的去美元化；民間的反美元霸權是以標榜去中心化的加密貨幣，其中以比特幣最具代表。當加密貨幣的規模大到不可忽略時，各國政府又開始擔心，這些不透過既有貨幣清算和結算系統的加密貨幣是否藏有金融監理的漏洞，這讓各國央行開始思考發行央行數位貨幣(CB/DC)的可行性。隨著中國與瑞典的數位人民幣DC/EP和數位克朗e-Krona開始在其國內試點後，代表之後央行數位貨幣(CB/DC)會往下一個階段，央行數位貨幣(CB/DC)的跨境支付部分邁進。跨境支付會使用到貨幣的清算和結算系統，因而進入數位貨幣時代貨幣霸權的爭奪點：央行數位貨幣(CB/DC)的貨幣清算協議，這也是未來可以接續研究的重要議題。

關鍵字

央行數位貨幣CB/DC ；美元霸權；清算系統

並列摘要

After the Second World War, the United States established the dollar hegemony by mastering the international currency settlement system. After the 2008 financial tsunami, countries felt disgusted with the US’s abuse of the US dollar’s international credit, and began to rebel against the US dollar hegemony. The country-based anti-dollar hegemony is the de-dollarization of various countries; cryptocurrencies, of which Bitcoin is the most representative. When the scale of cryptocurrencies is too large to be ignored, governments of various countries begin to worry about whether these cryptocurrencies that do not pass through the existing currency clearing and settlement systems have loopholes in financial supervision, which makes central banks of various countries begin to think about issuing central bank digital currencies (CB /DC) feasibility. As China and Sweden's digital renminbi DC/EP and digital krona e-Krona began to be piloted in their countries, it means that the central bank's digital currency (CB/DC) will go to the next stage, and the cross-border digital currency of the central bank (CB/DC) The part of border payment is moving forward. Cross-border payment will use the currency clearing and settlement system, thus entering the point of contention for currency hegemony in the era of digital currency: the currency settlement agreement of the central bank's digital currency (CB/DC), which is also an important topic that can be studied in the future.