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The Construction of digital RMB guarantee rule system realized by smart contract

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DOI: 10.23977/ferm.2023.061106 | Downloads: 23 | Views: 367

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.

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