Central bank digital currency(CBDC)is a groundbreaking innovation that provides a digital currency issued by the state to replace cash and commercial bank deposits,and is gradually changing the operating mode of the t...Central bank digital currency(CBDC)is a groundbreaking innovation that provides a digital currency issued by the state to replace cash and commercial bank deposits,and is gradually changing the operating mode of the traditional financial system.This paper explores the disruptive impact of CBDC on financial institutions,monetary policy and payment systems through theoretical analysis and empirical data.The study pointed out that CBDC has the potential to improve financial inclusion,reduce transaction costs and enhance the efficiency of monetary policy transmission.However,the challenges it has caused,such as financial disintermediation,systemic risks and privacy issues,urgently need to establish a strong regulatory framework to address them.Through data-driven insights and case studies,this paper provides a comprehensive perspective on how to find a balance between innovation and financial stability.展开更多
文摘Central bank digital currency(CBDC)is a groundbreaking innovation that provides a digital currency issued by the state to replace cash and commercial bank deposits,and is gradually changing the operating mode of the traditional financial system.This paper explores the disruptive impact of CBDC on financial institutions,monetary policy and payment systems through theoretical analysis and empirical data.The study pointed out that CBDC has the potential to improve financial inclusion,reduce transaction costs and enhance the efficiency of monetary policy transmission.However,the challenges it has caused,such as financial disintermediation,systemic risks and privacy issues,urgently need to establish a strong regulatory framework to address them.Through data-driven insights and case studies,this paper provides a comprehensive perspective on how to find a balance between innovation and financial stability.
