The influence of digital payment on monetary policy

1. E-money is a virtual currency, which has no material basis. No value. It's just hype. 2. Electronic payment is a form of monetary payment. It's based on money. There is a material basis. Alipay belongs to electronic payment. Electronic payment will have an impact on the central bank's monetary policy. I think it's much more convenient than the previous bank remittance payment.

2. With the rapid development of electronic finance and Internet, e-commerce as a new way of trade has graally become a major development trend of business applications. As the basis of e-commerce, e-money came into being. According to the definition of Basel Committee, e-money refers to the "stored value" and prepayment payment mechanism in the retail payment mechanism through the sales terminal, between different electronic devices and on the open network
the central bank has now made it clear that it will issue digital currency, and has completed two revisions. Of course, the digital currency to be issued by the central bank is different from the tokens launched by bitcoin, Leyte and European crowdfunding platforms. The digital currency issued by the central bank has the property of currency.

3. What is the difference between e-money and traditional money
with the improvement of social proctivity, the demand and quantity of social commodity exchange are growing, and the form of money has developed from shells, precious metals, ordinary metals to paper money and bills to today's e-money. The development of information technology with computer technology as the core has caused great changes in people's proction and lifestyle, and also promoted the development of money form. The booming e-commerce has developed a variety of means and tools of electronic payment. People call it electronic money, while others call it electronic currency, digital cash, digital currency, electronic cash, etc. The so-called "electronic currency" covers a wide range, such as credit card, savings card, debit card, IC card, consumption card, telephone card, gas card, electronic check, electronic wallet, network currency, smart card, etc., and almost all the electronic payment tools and methods related to capital
e-money is developed on the basis of traditional money, and has a lot in common with traditional money in nature, function and function. For example, the essence of e-money and traditional money is a special commodity which acts as a general equivalent. This special commodity is reflected in a certain social proction relationship. At the same time, they have five functions: value scale, circulation means, payment means, storage means and world currency. They reflect the value of commodities, mediate the exchange of commodities and regulate the circulation of commodities
compared with traditional money, e-money has different backgrounds, such as social background, economic conditions and technological level; Its manifestations are as follows: electronic money is transmitted and displayed by electronic pulse instead of paper, which is processed and stored by microcomputer without the size, weight and imprint of traditional money; Electronic money can only circulate in the field of transfer, and the circulation speed is much faster than that of traditional money; Traditional currency can be used in any area, while electronic currency can only be used in credit card market; The traditional currency is issued by the state and circulates compulsorily, while the electronic currency is issued by the bank. Its use can only be guided by propaganda, not forced orders. In addition, in use, legal currency should be used to reflect and realize the value of commodities, and settle the creditor's rights and debts between commodity procers; The influence of e-money on society is wider and deeper< Second, the application of e-money; It is widely used in the fields of proction, exchange, distribution and consumption; It integrates savings, credit and non cash settlement; At present, the use of e-money is usually based on bank card, so it is also called non denomination money. Because of the above characteristics, e-money is easy to use, safe, fast and reliable, and has many functions: saving function, using e-money to deposit and withdraw money; using e-money to withdraw money; Transfer settlement function, direct consumption settlement, instead of cash transfer; Cash function, when using currency in other places, exchange currency; The function of consumer loan is to borrow money from banks and use money in advance under certain conditions
credit card payment is the most commonly used tool in electronic payment. With the development of technology, the card base of credit card has developed from magnetic stripe card to more secure and reliable smart card, which can read and write a large amount of data. People call it electronic credit card, electronic wallet and e-card. Electronic wallet can also be said to be an electronic payment tool based on WWW browser or combined with WWW browser. It can display how much money users still have on their smart cards, and transfer funds among multiple electronic wallet in the case of mutual recognition. Some electronic wallet can also carry out wireless data communication, making electronic payment more vital
e-check is another common electronic payment tool in Internet banking. To change the traditional check into an electronic message with digital signature, or to use other digital messages instead of all the information of the traditional check, is the electronic check. Electronic check draws on the advantages of paper check transfer payment and transfers money from one account to another by digital transfer. Electronic check is the most efficient means of payment because of its low transaction cost and its ability to provide standardized fund information for merchants participating in e-commerce
in addition to the above e-credit cards and e-checks, there are also e-cash, e-change, secure change, online currency, digital currency, etc. The common characteristics of these payment tools are paperless, electronic and digital cash or currency, which is concive to the transmission, payment and settlement in the network, the use of Internet banking, and the realization of electronic payment and online payment
since the 1970s, check and cash payment methods have graally transferred their dominant position to bank card. In this process, the "cash flow" in the payment process has changed into "bill flow". With the deepening of the application of computer network technology in the bank, the bank has been able to use the computer application system to further transform the above "cash flow" and "bill flow" into "data flow" in the computer. In the bank computer network system, funds are transferred and transferred in a way invisible to human eyes, which is a modern payment method launched by the banking instry. This kind of fund, which is stored in computer in the form of electronic data and can be used through computer network, is more and more widely used in e-commerce
in e-commerce, the bank is the link between proction enterprises, commercial enterprises and consumers, and plays a crucial role. Whether the bank can effectively realize e-payment has become the key to the success of e-commerce. Taking a simple online transaction process as an example, firstly, the buyer sends a shopping request to the seller; The seller sends the buyer's payment instruction to the seller's acquiring bank through the payment gateway; The acquiring bank obtains the authorization from the issuing bank through the bank card network, and sends the authorization information back to the seller through the payment gateway; After obtaining the authorization, the Seller shall send the buyer the shopping completion information. If payment acquisition and payment authorization cannot be completed at the same time, the seller should send payment acquisition request to the acquiring bank through the payment gateway, and transfer the transaction funds from the buyer to the seller's account. The final inter-bank settlement is completed by the payment system between banks. From the above transaction process, it is not difficult to find that online transaction can be divided into two parts: transaction link and payment and settlement link. The payment and settlement link is completed by the financial professional network including payment gateway, issuing bank and card issuing bank. Therefore, without the bank, it is impossible to complete the payment of online transactions, so there is no real e-commerce
Citibank in the United States is currently developing an e-money system, which can provide consumers and enterprises with online payment services around the world. Visa Group issued 300000 smart cards ring the 1996 Atlanta Olympic Games. The smart card can record the amount transferred in and dect the consumption amount each time when swiping the card. It is a kind of stored value card type electronic currency. In May 1997, the Finnish bank took the lead in the experiment of online shopping payment, setting a European precedent. Due to the popularity of the Internet, the financial instry has invested in the network financial services business, which also accelerates the advent of the era of e-money. In the global plan to promote business automation, businesses and manufacturers are connected by an electronic ordering network, and each store is equipped with a point of sale system (POS). Consumers can pay all kinds of money with electronic currency through the terminal equipment of businesses
e-money is usually transmitted on a private network and processed through POS and ATM machines. In recent years, with the development of Internet, online financial services have been carried out all over the world. Internet financial services can meet people's various needs, including online consumption, online banking, personal finance, online investment and trading, online stock speculation, etc. These financial services are characterized by timely electronic payment and settlement through electronic currency. At this time, the types and forms of e-money have been further developed. The electronic currency system on Internet includes credit card system, electronic check system and digital cash system< Third, the main characteristics of e-money system
all kinds of e-money systems are in the process of development, with different characteristics, and many aspects have not been finalized. First of all, e-money procts are different in technology implementation. In order to store the prepaid value, the card based system needs special portable computer hardware facilities, the representative is the plastic card embedded in the microprocessor chip, while the software based system uses the special software installed on the standard PC< Secondly, institutional arrangements may change. The obvious point is that the operation of an e-money system will include four kinds of service providers: issuers of e-money value, network operators, suppliers of specialized software and hardware, and liquidators of e-money business. From a policy point of view, the most important provider is the issuer, because e-money is the liability of the balance sheet of these institutions. In contrast, network operators and hardware and software suppliers only provide technical services, while clearing houses are typical banks or professional companies owned by banks (it provides services for e-money and other non cash payment services). Obviously, when there are many publishers, but in some cases there is only one publisher, other institutions "buy" value from the publisher and then "sell" it to consumers
thirdly, electronic money procts have different ways of value transfer. Some electronic money systems allow direct electronic money transfers between consumers without involving any third party, such as the issuer of electronic value. More generally, payment is only allowed from the consumer to the merchant, and the merchant must exchange the recorded value in turn
Fourth, what is related to transferability is the degree of transaction records. Although some systems assume to keep only limited personal transaction records or no records at all, most systems register some transaction details between consumers and businesses in a central database, and these records can be monitored. If direct transactions between consumers are allowed, they can only be recorded in their own storage facilities, and only when consumers are connected with the operators of the e-money system can they be centrally monitored
technically, all businesses can issue e-cash, and without control, e-commerce will not develop normally, It even brings serious economic and financial problems. The safe use of e-cash is also an important issue, including limited use by legal persons and avoidance of repeated use. For borderless e-commerce applications, e-cash also has a lot of potential problems in tax, law, foreign exchange rate, money supply and financial crisis. It is necessary to formulate a strict economic and financial management system to ensure the normal operation of digital currency
e-money is the core of e-commerce, which will play an important role in international finance

4. The digital currency issued by the central bank is only a substitute for banknotes and coins. In fact, it is a kind of electronic cash, which has little impact on monetary policy and commercial banks. In the traditional currency issuance, the cash in circulation is actually the direct debt of the central bank to the public, only because of technical constraints and cost considerations, the central bank issues cash through commercial banks. With the progress of technology, it is possible for the central bank to issue money directly to indivial and enterprise accounts in the form of digital currency. E-cash flow is still through the central bank and financial institutions, and then to enterprises and indivials. In terms of money manufacturing channels, circulation links and functions, e-cash flow is exactly the same as paper money

e-cash flow still flows through the central bank and financial institutions to enterprises and indivials, which is identical with paper money in terms of money creation channels, circulation links and functions, and does not break away from the scope of traditional monetary policy regulation. The main function of e-cash is to facilitate transaction payment
considering that the development of non cash payment methods such as third-party payment has greatly facilitated transaction payment in recent years, the impact of e-cash on money transaction demand is limited, and the overall impact on monetary policy is not significant. The extent to which e-cash is accepted by the public depends on its convenience and security.

5.

The development of e-money helps the government to monitor e-money, adjust its monetary policy in time according to the development of e-money research and practice, and ensure the reliability of payment system

Relevant introction:

the formulation of technical standards for e-money and the promotion and application of e-money are semi government and semi private in most countries. Generally, enterprises are responsible for the formulation of technical safety standards. The government focuses on promotion and application

the object of monetary policy regulation is money supply, that is, the total purchasing power of the whole society, which is expressed in the form of cash in circulation and deposits in banks by indivials, enterprises and institutions

extended data

the widespread use of e-money makes the emergence of Internet banking inevitable. There are two types of Internet Banking: one is the Internet banking which is completely dependent on the development of the Internet, the other is the traditional bank using the public Internet, the Internet banking business as an extension of the bank's retail business counter, to achieve the purpose of 24-hour uninterrupted service, and save the bank's operating costs. In a complete sense, the Internet banking is the first type of Internet banking

e-money is a kind of money that can be issued through the electronic network and circulated all over the world, which breaks the monopoly power of a country's central bank on currency issuance. As a result, those institutions and indivials with advanced technology and a lot of capital (such as software companies, telecommunications companies, Internet companies, Internet companies, Internet companies, Internet companies, Internet companies, Internet companies, Internet companies, Internet companies, Internet companies, Internet companies, Internet companies, Internet companies, Internet companies, Internet companies, Internet Like commercial banks, e-money issuance and operation are their main business

6. The construction of the e-money system has made slow progress. E-money is a kind of more secure electronic credit developed on the Internet. E-money is bound to have broader development prospects, circulation, use and other technical problems. In 2000, about 10% of people used e-money for business transactions< Third, it was not until the middle and late 1990s, with the deepening of the reform of the financial system, banks were pushed to the market, and the sense of survival and competition of the commodity economy forced the Chinese banking sector to think about the development strategy of e-money
in China, the focus of development is still on the credit card business. The first bank credit card in China was issued by Zhuhai branch of Bank of China in June 1985. Compared with foreign countries, the development history of bank credit card is very short. In recent years, China's bank card business has developed rapidly. Mondex is the electronic currency closest to cash at present. Consumers and businesses (i.e. buyers and sellers) input their various supply and demand wishes into the e-commerce network according to a certain format, with commercial electronic machines and various transaction cards as the media; Second, the issuers will be transformed from the central bank to other entities, and the construction of e-money system is slow, which also covers the scope of capital flow. In the payment process, there are also instry analysis, e-commerce will flourish. After the user opens an account in the bank which carries out e-cash business and stores money in the account, he can shop in the store which accepts e-cash< Second, the development of e-money
1, the indispensable role, such as e-cash, only a correct understanding of the advantages of e-money, more and more e-payment tools related to e-commerce. These payment instruments can be roughly divided into three categories: smart card payment card (such as Mondex) and digital currency file (such as e-cash and cyber coin). A brief description of e-commerce process. E-commerce is a kind of business mode adopting the most advanced information technology. The whole process of e-commerce is not a of business activities in the stage of instrial economy, a long-distance value transfer from person to business and person to bank. China's e-commerce is in its infancy, online financial services are less developed, with low preservation cost. Especially suitable for small amount of online purchase. E-money technology solves the problem of invisible money storage. 55 financial institutions across the country have opened bank card business, with a total amount of 3 cards issued, which reces the cost of currency issuance. There is a close relationship between e-money and e-commerce. In e-commerce, it has a complete set of business, such as information transmission, payment and collection. At the same time: one is electronic currency. At the same time, the online financial services driven by online e-money are developing rapidly in the world. According to statistics, online financial business accounted for 10% ～ 20% of the traditional financial business in 2000. In order to ensure the security of the transaction process, the certification authority certifies the buyers and sellers of online transactions to confirm their true identities. E-commerce essentially forms a virtual market exchange place
2. E-money and e-commerce. Mark Twain Bank of the United States is the first bank in the United States to provide e-money business. As early as April 1996, it obtained 10000 e-money customers
2. The main form of e-money is safe and efficient, and it can obtain the convenience of consultation and financing
e-cash is a digital currency developed by digicash for online transactions. The currency will include an "electronic digital pulse", among which the online financial business in the United States is the fastest growing. In our country, the development trend of electronic currency. At present, the development of electronic currency is very rapid. According to experts' prediction, 12% ～ 15% of transactions in the United States will be carried out by electronic means in the past ten years. It is inevitable that money payment or capital flow will be carried out through the network. By using electronic money, money can be stored on its own hard disk in anonymous form and used in the payment process safely and flexibly. It connects consumers and businesses (buyers and sellers) with banks. Consumers can open an account in the relevant banks. When they need to use e-money, they can install corresponding software or deposit cash in advance. However, after negotiation with businesses, consumers can use the corresponding e-money to pay for the goods they buy by signing an order contract. The certification authority ensures the security of the transaction process
3. Problems and solutions in application. The application and development of e-money make it possible to trade in cash and cash on the Internet, and promote the innovation of enterprise marketing structure, marketing mode and settlement mode; The convenient, fast and easy way of shopping will also greatly stimulate consumption and expand demand, bringing unlimited business opportunities to retailers; At the same time, e to the implementation of open network operation, the market competition is greatly intensified, prompting enterprises to provide high-quality and low-cost goods and high-quality and efficient services for the market
in e-commerce, the use of e-money for payment has many advantages compared with traditional currency payment. First of all, in the same space, the face value that electronic money can store is unlimited; The face value of traditional currency is limited. Secondly, e-money is limited by time and space, and can be transmitted in a short time through the communication system. Third, electronic money can be managed by computer, which makes up for the high cost of traditional money management. Fourth, the anonymity of e-money is stronger than that of traditional money, avoiding face-to-face transactions. In addition, the author also thinks that compared with the traditional currency, the electronic currency has the advantage of large information carrying capacity. Through the use of e-money in the transaction process, businesses, manufacturers and consumers can get more information than traditional transaction methods. For example, businesses can quickly and timely count the sales volume of hot-selling procts on the Internet, accurately find out the user information of browsing or purchasing through user registration information, and even conct follow-up market research in the form of telephone and e-mail, so as to provide more convenient services. At the same time, consumers can also get quick feedback and perfect after-sales service< However, as a payment tool, there are still some defects in the application of e-money in e-commerce. There are many views on this issue. For example, security problems, imperfect network infrastructure construction, immature development of e-commerce, system reliability, security and digital authentication technology, etc. these problems will have a great impact on the development of e-money. In order to make e-money develop rapidly and healthily, we must solve these problems as soon as possible. We should not only strengthen the construction of network infrastructure, but also improve the popularity of Internet; At the same time, we should actively develop e-commerce to promote the development of e-money; In addition, we should introce and improve the corresponding laws and regulations as soon as possible, provide the corresponding legal protection for the network security, standardize the online transaction proceres, and correctly use the digital certificate< In addition, through the study of e-money, the author thinks that the emergence and application of e-money poses new challenges to traditional value economics and monetary banking. In the future, e to the application of e-money, the central bank can no longer adjust the market economy by adjusting the amount of money issued. New value economics and monetary banking will come into being. Inflation and deflation will also have new interpretations to adapt to the future development of network economy. E-money will form a new discipline, which will impact the traditional theories and ideas of economic and financial circles< Conclusion: expanding the business of e-money is an inevitable requirement of economic development. With the accelerating process of economic globalization and the rapid development of information technology, the realization of electronic monetary and financial system will be an inevitable trend. At present, with the development of information technology related e-commerce, e-commerce, various online shopping systems based on secure data exchange protocol, supply chain management and network marketing, the original computer application system, management system and trade system structure can not keep up with the development and demand of the times. I believe that in the near future, driven by the continuous development of e-commerce, e-money will also get more comprehensive development in social and economic life< References:
1. Yu xutao, Sha Jizhang. Technical problems of e-money. Journal of Changzhou branch of Hehai University, 2000 (1)
2. Zhai Fengrong. E-money and e-payment. Value engineering, 2000 (5)
3. Bai Jing. On e-money and its development in China. Gansu academic journal, 2001 (5)
4, 2001
5. Xu Xiaoyong. The development of e-money and its risk prevention. Zhejiang finance, 2001 (2)
6. Pan Yu. Network economy -- the future direction of economic development. Journal of Nanjing University of Chemical Technology (zheshe Edition), 2000
7. Hu Guangwei, Pan Yu. Network enterprises and their influence on the development strategy of Chinese enterprises. Journal of Nanjing University of Chemical Technology (zheshe Edition), Zhou Jie and Pan Yu. A new way of business operation -- e-commerce. Journal of Nanjing University of Chemical Technology (Philosophy Society Edition), 2000. With the rapid development of electronic finance and Internet, network, as a new trade field, is graally becoming a major development trend of business. E-money system is the basis of e-commerce, e-wallet and so on. The former is mainly used for offline payment, while the latter is used for online payment, basic concepts and main forms of e-money
1. It is a kind of currency circulating in the form of data, and e-commerce is the combination of "communication service" and "data management service". Mondex card in addition to the characteristics of cash, the transmitter is installed in the mobile phone, cash withdrawal, deposit. On the whole; All financial institutions have installed 49000 automatic teller machines and 33 sales terminals. At the same time, it has a better feature than cash, that is, it can safely act as person to person through electronic channels (such as telephone, Internet, etc.), the payment method will tend to be simplified and unified, and the e-commerce network will meet the requirements of consumers, Search for relevant information and provide consumers with a variety of trading options. Once confirmed by consumers, e-commerce will assist in signing and classifying contracts< br />3
1; The other is electronic credit card, including smart card, debit card, telephone card, etc. The cash value is converted into a series of encrypted serial numbers, which are used to represent the currency value of various amounts in reality
Mondex is e-mondex (e-cash). Its main purpose is to replace banknotes and coins for daily small consumption, and to establish and improve the e-money system; There is another kind of electronic check, such as electronic check, electronic remittance (EFT), electronic transfer, etc. This paper will analyze and study the applicability of e-money, one of the tools of e-payment, in e-commerce?? In the face of the coming digital era, transfer, convenient and fast, the development of e-money in China is relatively late compared with the developed countries, and is still in the initial stage. The development of online financial services is less, so that we can really carry out e-commerce activities. 1. European countries are also developing vigorously; In Asia. Among them, the depth and breadth of the application of e-money as a payment tool directly affects the development of e-commerce. Through the process of e-commerce, we can see that e-commerce includes not only commodity flow, information flow and logistics, but also the basic concept of e-money. As the latest form of money, e-money,

7.

bus line: Metro Line 11, the whole journey is about 41.3km

1. Take Metro Line 11 from Jiading North, pass 22 stops, and arrive at Dongfang sports center station

8. Keynes put forward the concept of money demand motivation. He believes that people's money demand behavior is determined by three motives: transaction motive, prevention motive and investment motive

1. Transaction motivation. There is a certain period of time between people's money income and expenditure. In this period, money is an essential medium of transaction. Therefore, people must hold a certain amount of money. As the time distance between revenue and expenditure will not change, the amount of money retained by this motive basically maintains a stable relationship with income< 2. Prevention motivation. In order to prevent unexpected needs, a certain amount of money must be held. The amount of money retained for this motive also basically maintains a stable relationship with income< 3. Speculation motivation. In order to make a favorable choice between money and profit-making assets, people need to keep a certain amount of money. If the current interest rate is low (the cost of holding money is low) and may rise, you can hold more money and then buy bonds with higher interest rate in the primary market or securities with lower price in the secondary market to obtain higher yield. On the contrary, the holding of money will be reced. It can be seen that speculative money demand is negatively correlated with interest rate.