法定数字货币运行的国际实践及启示

以比特币为代表的私人数字货币虽本质上不具备货币职能,但已对现行的货币与金融体系构成了巨大挑战。为应对这一挑战,各国央行正在积极研发或推行法定数字货币。对相关国家法定数字货币运行实践比较的结果表明:现有的法定数字货币大多以区块链技术为基础并由本国央行集中发行,主要采用双层运营体系;批发型设计有利于提高运行效率和金融安全,零售型设计则更有利于应用场景推广以满足不同需求;能否稳定币值事关法定数字货币试点成败。我国在研发法定数字货币的过程中应遵循稳步、安全、可控原则,尽快制定法定数字货币的相关法律法规,加大数字货币技术创新的研究力度,丰富应用场景,深化法定数字货币研发的国际合作。

International Practice and Enlightenment of Central Bank Digital Currency

Although private digital currencies represented by Bitcoin have no monetary functions in nature,they have greatly challenged the current currency and financial system.To tackle this challenge,central banks are actively developing or implementing the Central Bank Digital Currency(CBDC).The comparison of the operation practice of CBDCs in relevant countries show that:most of the existing CBDCs are based on blockchain technology and issued centrally by the central banks which have adopted a dual system;whole sale design is conducive to improve operational efficiency and financial security,and retail design contributes to promoting application scenarios to meet different needs;currency value stability is crucial to the success of the trials of CBDC.Finally,this article suggests that China should follow the principles of stability,safety and controllability in the process of developing CBDC,formulate relevant laws and regulations on CBDC as soon as possible,strengthen the research of digital currency technology innovation,rich application scenarios and deepen international cooperation in the research and development of CBDC.