发帖
雷达卡
货币的数字化
THE DIGITALIZATION OF MONEY
作者：
马库斯·K·布鲁纳迈尔（Markus K. Brunnermeier）
哈罗德·詹姆斯（Harold James）
让·皮埃尔·兰道（Jean-Pierre Landau）
The ongoing digital revolution may lead to a radical departure from the traditional model ofmonetary exchange. We may see an unbundling of the separate roles of money, creating fiercercompetition among specialized currencies. On the other hand, digital currencies associated withlarge platform ecosystems may lead to a re-bundling of money in which payment services arepackaged with an array of data services, encouraging differentiation but discouraginginteroperability between platforms. Digital currencies may also cause an upheaval of theinternational monetary system: countries that are socially or digitally integrated with theirneighbors may face digital dollarization, and the prevalence of systemically important platformscould lead to the emergence of digital currency areas that transcend national borders. Centralbank digital currency (CBDC) ensures that public money remains a relevant unit of account.正在进行的数字革命可能导致与传统货币兑换模型的根本性偏离。我们可能会看到货币的不同作用被解开，从而导致专门货币之间的竞争更加激烈。另一方面，与大型平台生态系统相关联的数字货币可能会导致货币重新捆绑，其中付款服务与一系列数据服务打包在一起，从而鼓励差异化，但不利于平台之间的互操作性。数字货币也可能导致国际货币体系的剧变：与邻国进行社会或数字整合的国家可能面临数字美元化，系统重要性平台的盛行可能导致超越国界的数字货币区域的兴起。
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