Author(s)

Yulin Zheng ¹, Jianxin Hu ², Zhu Ying ¹, Tao Wang ²

Affiliation(s)

¹ College of Mechanical and Electrical Engineering, Huali College, Guangzhou, China
² College of Economics and Trade, Huali College, Guangzhou, China

Corresponding Author

Yulin Zheng

ABSTRACT

The guarantee rule system of digital RMB is a system that needs to be continuously improved. Its core is to establish the legal status and guarantee rules of digital RMB. Based on the research of the existing guarantee rule system, on the basis of drawing lessons from the existing blockchain technology and intelligent contract technology, this paper puts forward the idea of using intelligent contract to assist in the construction of digital RMB guarantee rule system. By embedding smart contracts in the whole process of digital RMB issuance, circulation and destruction, we can provide more enforceable guarantees for digital RMB, and gradually establish a digital RMB guarantee rule system that is compatible with China's current legal system and meets the needs of China's financial innovation.

KEYWORDS

Digital RMB, Guarantee Rule System, Smart Contract

CITE THIS PAPER

Yulin Zheng, Jianxin Hu, Zhu Ying, Tao Wang, The Construction of digital RMB guarantee rule system realized by smart contract . Financial Engineering and Risk Management (2023) Vol. 6: 39-44. DOI: http://dx.doi.org/10.23977/ferm.2023.061106.

REFERENCES

[1] Bossu, Wouter, et al. (2020) Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations. International Monetary Fund (IMF) Research Paper Series, 254.
[2] Barrdear, John, and M. Kumhof. (2021) The Macroeconomics of Central Bank Digital Currencies. Journal of Economic Dynamics and Control, 104-148.
[3] Fegatelli, P., Mcmillin, D., & Palivos, T.  (2022). A central bank digital currency in a heterogeneous monetary union: managing the effects on the bank lending channel. Journal of Macroeconomics, 71.
[4] Nabilou, H., & Singh, D. (2020). Testing the waters of the Rubicon: the European Central Bank and central bank digital currencies.
[5] Allen, S., Capkun, S., Eyal, I., Fanti, G., Ford, B. A., & Grimmelmann, J., et al. (2020). Design choices for central bank digital currency: policy and technical considerations. Working paper series: Monetary economics (TN.27634). 
[6] Gengxuan, C., Qinmin, J., & Hao, L. (2023). Rethinking the rise of global central bank digital currencies:a policy perspective. Contemporary social sciences (English), 8(1), 1-16.
[7] Fegatelli, P. (2021). The one trillion euro digital currency: how to issue a digital euro without threatening monetary policy transmission and financial stability? BCL working papers.
[8] Belenchuk, S. I. (2021). New type of money €" central bank digital currency. RSUH/RGGU BULLETIN. Series Economics. Management. Law.
[9] Ming Li, Lin Sun, Chenhui Wang. ( 2021). Research on security risks and countermeasures of digital currency cased on blockchain technology. China Information Security,48-50. 
[10] Li Bin, Fang Pan. (2021) Research on the legal issues of the central bank's legal digital currency issuance. Journal of Xi'an Shiyou University (Social Science Edition), 2021, 30(01):87-92+99.

Sponsors, Associates, and Links

---

• Information Systems and Economics
  
  
• Accounting, Auditing and Finance
  
  
• Industrial Engineering and Innovation Management
  
  
• Tourism Management and Technology Economy
  
  
• Journal of Computational and Financial Econometrics
  
  
• Accounting and Corporate Management
  
  
• Social Security and Administration Management
  
  
• Population, Resources & Environmental Economics
  
  
• Statistics & Quantitative Economics
  
  
• Agricultural & Forestry Economics and Management
  
  
• Social Medicine and Health Management
  
  
• Land Resource Management
  
  
• Information, Library and Archival Science
  
  
• Journal of Human Resource Development
  
  
• Manufacturing and Service Operations Management
  
  
• Operational Research and Cybernetics