数字货币的历史逻辑与国家货币发行权的掌控——基于央行货币发行职能的视角

The Logic of Digital Currency and the Control of National Currency Issue Right:From the Perspective of the Central Bank's Function to Issue Currency

自20世纪末数字货币诞生以来,货币制度开启了从有形实物向虚拟数字过渡的新进程,央行推进数字货币研发标志着数字货币由私人部门上升至国家层面。货币制度与国家货币发行权的掌控如影随形,央行数字货币的发行使我们有机会探析国家掌控货币发行权的实质。研究表明:货币形态的演进本质上是货币属性强度的结构性更迭;国家每一次统一货币的行为实质上都是对于货币形态与属性的双重强化;依据历史逻辑,国家掌控数字货币发行权的关键在于对"价值尺度"的把握。

The birth of digital money was one of the most important financial events in 20th century. Digital money is the highest form of monetary system from the physical to the virtual digital, he evolution of the mone- tary system has always been based on the control of the national distribution right. Exploring the essence of the national monetary distribution right helps to strengthen people＇s understanding of the behavior of the central bank to issue digital money. The research shows that during the evolution of monetary form, the strength of the mone- tary attribute is also undergoing internal evolution. The unification of each currency is a kind of strengthening of the form and property of money. According to the evolution logic of monetary attribute, the central bank＇s con- trol of the digital money lies in the grasp of the value of the property.