A systematic framework to understand central bank digital currency

A paper published in SCIENCE CHINA Information Sciences analyzes the essence and connotation of digital fiat currency (DFC) from four dimensions. Chinese DFC is to contribute to more stable value, more secure data, more powerful regulation, stronger empowerment of individuals in payment activities, and smarter application. Chinese DFC should have qualities to provide better service for the public, to offer effective tools for macroeconomic control and to lay a solid foundation for RegTech development.

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