Impacts of Digital Currency Electronic Payment (DCEP) on China’s Banking System

DOI

10.2991/assehr.k.211209.529How to use a DOI?

Keywords

DCEP; CBDC; Digital Money; Bank System

Abstract

With the progress of the Internet and big data technology, the format of the currency is transmitting from physical money to digital money. Countries in the world commence to research on the function of the digital currency and Digital Currency Electronic Payment (DCEP) is People Bank of China’s practice of the Central Bank Digital Currency (CBDC). While DCEP, bitcoin and third-party payment are digital money, they have differences in several aspects. Central bank and commercial bank play an important role in issuing the DECP. In this article, the influence of the DECP on central bank and commercial bank is explored and we could find that the DCEP could ameliorate the monetary policy and stabilize the financial market, save the cost of using cash and strengthen the financial supervision for the central bank. In addition, for commercial bank, the DCEP could motivate the bank to formulate a new development objective which is more suitable to the Internet financial market.

Copyright

© 2021 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Tong Zhang
PY  - 2021
DA  - 2021/12/15
TI  - Impacts of Digital Currency Electronic Payment (DCEP) on China’s Banking System
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 3242
EP  - 3246
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.529
DO  - 10.2991/assehr.k.211209.529
ID  - Zhang2021
ER  -