数字货币及其经济影响研究新进展

New Research Progress on Digital Currency and Its Economic Impact

目前已有数千种数字货币在全球发行,数字货币研究是近年来经济学领域研究的热点之一,但仍然缺乏对各类数字货币研究及前沿问题的系统梳理。本文依据支付方式的四大属性对货币体系中的数字货币进行区分,阐述了各类数字货币的本质与特性以及数字货币可能产生的经济影响。目前,货币支付体系中的数字货币主要包括加密货币、E-money、I-money等私人发行的数字货币以及央行发行的法定数字货币。研究表明,数字货币的出现会对传统货币体系产生颠覆性的影响,进而影响到金融体系的稳定与货币政策传导。因此,各类数字货币(尤其是私人数字货币)也受到各国政府与央行的密切关注和积极监管。通过对各类数字货币最新研究文献的系统梳理,本文展示了近年来关于数字货币研究的新进展。

Thousands of digital currencies have been issued worldwide,and research on digital currencies is one of the hottest fields of economic studies.However,there is still a lack of systematic review of digital currency research and frontier issues.This article categorizes digital currencies in the monetary system based on the four main attributes of payment methods and explains the nature and characteristics of various digital currencies,as well as the possible economic impact of digital currencies.Currently,digital currencies in the monetary payment system mainly include privately issued digital currencies such as cryptocurrencies,E-money,and I-money,and legal digital currencies issued by central banks.It is shown that the emergence of digital currencies can have a disruptive impact on the traditional monetary system,which in turn affects the stability of the financial system and monetary policy transmission.Thus,various types of digital currencies,especially private digital currencies,are under strict regulation of governments and central banks.