Impacts of Digital Currency Electronic Payment (DCEP) on China’s Banking System
- 10.2991/assehr.k.211209.529How to use a DOI?
- DCEP; CBDC; Digital Money; Bank System
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.
- © 2021 The Authors. Published by Atlantis Press International B.V.
- Open Access
- This is an open access article under the CC BY-NC license.
Cite this article
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 -