数字货币模式对货币供求的影响——以央行DCEP和Libra为例

THE IMPACT OF THE DIGITAL CURRENCY MODEL ON CURRENCY SUPPLY AND DEMAND——TAKING THE DCEP AND LIBRA AS EXAMPLES

随着区块链技术的不断发展,各类基于区块链技术发展而成的数字货币层出不穷,除了比特币、以太坊等数字货币以外,各国政府和大公司也都看到了数字货币的巨大优点,并提出了自己的数字货币规划.而在这些数字货币当中,中国央行的DCEP(数字货币和电子支付工具)和美国脸书的Libra(天秤币)是当今世界上最受关注的两款数字货币.本文选用贝伦森和亚历山大的方法研究了这两种数字货币对于货币供求的影响.研究发现:DCEP的引入会使货币供给增加、货币需求减少,而Libra对货币供求的影响则取决于其准备金率以及存款准备金率.针对数字货币模式对货币供求的影响,提出了央行应对数字货币时代的建议.

In recent years,with the continuous development of the block chain technology,the digital currencies formed by block chain technologies have emerged.In addition to the digital currency such as Bitcoin,Ethereum and other digital currencies,governments and big companies have also seen the huge advantages of digital currency,and propose their own digital currency planning.In these digital currencies,the Bank of China′s DCEP and the American Facebook Libra are the two most focused digital currencies in the world.In this paper,the method of Benrensen and Alexander was chosen to study the impact of these two digital currencies for currency supply.DCEP will increase the money supply,and the currency demand will be reduced.The impact of Libra′s currency supply depends on its reserve rate and deposit reserve rate.Finally,some suggestions are put forward for the central bank to deal with the digital era.