The Financial Implications of the Emergence of Digital Currencies under the Development of the Digital Economy

Research Article
Open access

The Financial Implications of the Emergence of Digital Currencies under the Development of the Digital Economy

Zihao Zhong 1*
  • 1 Zhuhai College of Science and Technology    
  • *corresponding author 1206185993@qq.com
Published on 13 September 2023 | https://doi.org/10.54254/2754-1169/7/20230242
AEMPS Vol.7
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-41-6
ISBN (Online): 978-1-915371-42-3

Abstract

Discuss whether the gradual popularization of digital currencies will have any impact on Internet finance. When digital currencies slowly enter our lives, the way we trade will gradually change, which will have a subtle impact on us. This paper through the literature induction method, found that not only digital currency will affect the development of Internet finance, but also affect the development of traditional commercial banks, through the study of the structure of Internet finance and the theory of digital currency, this paper can be inferred The emergence of digital currencies and how their gradual popularization will affect Internet finance, and through observation and summary, digital currencies have gradually penetrated into people's trading methods, and the issuance of digital currencies will bring many positive impacts to Internet finance. For example, the settlement method of digital currency will reduce the transaction costs of Internet finance, and the issuance of digital currency may lead to the rise of interest rates, making people more inclined to become investors, enter the Internet financial market for investment and purchase derivatives, thereby promoting currency circulation and promoting international economic development. Therefore, the issuance of digital currency is conducive to the development of a country's Internet finance, which can bring many benefits to Internet finance, so that the economy can be further developed and technology can progress.

Keywords:

digital currency, internet finance, digital economy

Zhong,Z. (2023). The Financial Implications of the Emergence of Digital Currencies under the Development of the Digital Economy. Advances in Economics, Management and Political Sciences,7,262-268.
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References

[1]. Xie Ping, Zou Chuanwei, 2012, 《Research on Internet Financial Models》, Financial Research Issue 12.

[2]. Sang Chaoyang, 2022, 《The Connotation Definition and Essential Analysis of Digital Currency: Based on Marx's Monetary Theory》, Credit Investigation Issue 5, pp. 56-62.

[3]. Hio Loi,2016,《ESSAYS ON DIGITAL CURRENCY.

[4]. Li Xinge, 2022, 《The Dilemma and Transformation of Commercial Banks in the Context of Fiat Digital Currency》, China Collective Economy Issue 13, pp. 107-109.

[5]. Cao Lei, 2 022, 《Discussion on the Business of Financial Institutions in the Context of Fiat Digital Currency》, FinTech Era Issue 5, pp. 41-45.

[6]. Gong Xiaolin, 2013, 《Internet Financial Model and Its Influence on Traditional Banking Industry》, Southern Finance Issue 5.

[7]. Rongda Chen, Huiwen Chen, Chenglu Jin, Bo Wei, Lean Yu,2020,《Emerging Markets Finance and Trade》,56:1196–1210.

[8]. Yao Qian, Tang Yingwei, 2017, 《Some Thoughts on the Legal Digital Currency of the Central Bank》, Financial Research Issue 7, pp. 78-85.

[9]. Xu Wanchun, Zhang Meipin, 2020, 《The Research on the Scale of China's Digital Economy Based on the Perspective of International Comparison》, China Industrial Economy Issue 5, pp. 23-41.

[10]. Li Jun liang, 2 022, 《Analysis of the Impact of Digital Economy Development on Long-term Inflation Trends》, China Prices Issue 5, pp. 7-10.

[11]. Xie Ping, Zou Chuanwei, Liu Haier, 2015, 《Basic Theory of Internet Finance》, Financial Research Issue No. 8, pp. 1-12.

[12]. Jiao Jinpu, Sun Yaoqi, Huang Xiangxiang, Wang Yaodu, 2015, 《Theoretical Framework, International Practice and Supervision System for the Development of Digital Currency and Inclusive Finance》, Financial Supervision Research Issue 7, pp. 19-35.

Cite this article

Zhong,Z. (2023). The Financial Implications of the Emergence of Digital Currencies under the Development of the Digital Economy. Advances in Economics, Management and Political Sciences,7,262-268.

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About volume

Volume title: Proceedings of the 2nd International Conference on Business and Policy Studies

ISBN：978-1-915371-41-6(Print) / 978-1-915371-42-3(Online)
Editor：Canh Thien Dang, Javier Cifuentes-Faura
Conference website: https://2023.confbps.org/
Conference date: 26 February 2023
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.7
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. Xie Ping, Zou Chuanwei, 2012, 《Research on Internet Financial Models》, Financial Research Issue 12.

[2]. Sang Chaoyang, 2022, 《The Connotation Definition and Essential Analysis of Digital Currency: Based on Marx's Monetary Theory》, Credit Investigation Issue 5, pp. 56-62.

[3]. Hio Loi,2016,《ESSAYS ON DIGITAL CURRENCY.

[4]. Li Xinge, 2022, 《The Dilemma and Transformation of Commercial Banks in the Context of Fiat Digital Currency》, China Collective Economy Issue 13, pp. 107-109.

[5]. Cao Lei, 2 022, 《Discussion on the Business of Financial Institutions in the Context of Fiat Digital Currency》, FinTech Era Issue 5, pp. 41-45.

[6]. Gong Xiaolin, 2013, 《Internet Financial Model and Its Influence on Traditional Banking Industry》, Southern Finance Issue 5.

[7]. Rongda Chen, Huiwen Chen, Chenglu Jin, Bo Wei, Lean Yu,2020,《Emerging Markets Finance and Trade》,56:1196–1210.

[8]. Yao Qian, Tang Yingwei, 2017, 《Some Thoughts on the Legal Digital Currency of the Central Bank》, Financial Research Issue 7, pp. 78-85.

[9]. Xu Wanchun, Zhang Meipin, 2020, 《The Research on the Scale of China's Digital Economy Based on the Perspective of International Comparison》, China Industrial Economy Issue 5, pp. 23-41.

[10]. Li Jun liang, 2 022, 《Analysis of the Impact of Digital Economy Development on Long-term Inflation Trends》, China Prices Issue 5, pp. 7-10.

[11]. Xie Ping, Zou Chuanwei, Liu Haier, 2015, 《Basic Theory of Internet Finance》, Financial Research Issue No. 8, pp. 1-12.

[12]. Jiao Jinpu, Sun Yaoqi, Huang Xiangxiang, Wang Yaodu, 2015, 《Theoretical Framework, International Practice and Supervision System for the Development of Digital Currency and Inclusive Finance》, Financial Supervision Research Issue 7, pp. 19-35.

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