Research on the influence of digital currency on base currency
even if it's live broadcasting, it's no problem. Live broadcasting is mainly about processor and memory. You can satisfy it, but you need to ensure the network speed
digital currency is a double-edged sword. On the one hand, the blockchain technology it relies on has been decentralized and can be used in other fields besides digital currency , which is one of the reasons why bitcoin is popular; On the other hand, if digital currency is widely used by the public as a kind of currency, it will have a huge impact on the effectiveness of monetary policy, financial infrastructure, financial market, financial stability and so on. Specific Wu Xiaoxia:
1. Impact on monetary policy
if digital currency is widely accepted and can play the role of currency, it will weaken the effectiveness of monetary policy and bring difficulties to policy-making
because digital currency issuers are usually unregulated third parties, money is created outside the banking system, and the amount of circulation depends entirely on the wishes of the issuers, which will lead to the instability of money supply. In addition, the authorities are unable to monitor the issuance and circulation of digital currency, which will lead to the inability to accurately judge the economic operation and bring trouble to policy-making, At the same time, it will weaken the effectiveness of policy transmission and implementation
2. Impact on financial infrastructure. The use of distributed ledgers also poses challenges to trading, clearing and settlement, as it promotes the disintermediation of traditional service providers in different markets and infrastructures. These changes may have potential impacts on market infrastructure other than retail payment systems, such as large payment systems, securities settlement systems or trading databases
3. The impact on financial intermediation and financial market in a broad sense. As a financial intermediary, banks perform the ties of acting supervisors and supervise borrowers on behalf of depositors
generally, banks also carry out liquidity and maturity conversion business to realize the financing from depositors to borrowers. If digital currency and distributed ledger are widely used, any subsequent disintermediation may have an impact on savings or credit evaluation mechanisms
4. The impact of security risks and financial stability
assuming that digital currency is recognized by the public, its use increases significantly and replaces legal currency to a certain extent, negative events such as network attacks on user terminals related to digital currency will lead to currency fluctuations, which will have an impact on the financial order and the real economy
in addition, the virtual currency based on blockchain technology is usually held by a few people at the beginning. For example, the first purchase of bitcoin in May 2010 was $25 pizza purchased by 10000 BTC, and the price of each bitcoin rose to $1200 in more than three years by the end of 2013
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extended materials
Amazon will launch digital currency project in Mexico. Amazon is recruiting software development managers for digital and emerging payments (DEP) to develop new payment procts that will enable customers to convert cash into digital currency
the digital and emerging payments sector intends to launch the proct in Mexico first. The follow-up will be extended to Brazil and India. It is reported that the digital currency project will completely focus on payment services in emerging markets
under the central bank system, the central bank provides the base money for the commercial banks to hold multiple amplification effect
after decting the required deposit reserve (legal reserve), the commercial banks form excess reserve, which will proce multiple amplification effect through its repeated use in the whole commercial banking system, making the central bank 1 yuan in debt, After the application of asset business in commercial bank system, it becomes a few yuan liability of commercial bank. The enlarged bank liabilities in the commercial banking system, together with part of the cash provided by the central bank to the public, constitute the whole money supply, which is provided to the non bank economic sectors
the above analysis shows that base money is the prerequisite of money supply. To control the money supply, we must limit the base money to a reasonable range. The size of the excess reserve is the constraint of the credit expansion ability in the commercial bank system. And the whole money supply is the proct of base money and credit expansion capacity (money multiplier). It can be seen that in the mechanism of money supply regulation, the important role of the three basic factors of "base money excess reserve and its multiplier effect money supply" can not be ignored.
the dog has black eyes and a pair of big ears, which is funny. Its coat is black and white, but its tail and claws are pure white. Its small white tail is always swaying. Its four snow-white claws are like wearing clean white socks, which is very popular
the dog likes the food I give him very much. He always looks satisfied when he is full. Sometimes it likes to hold my shoes gnawing play, play tired to find a place to sleep. Wake up, it likes to look around for me, let me play with it
I like this cute little dog. It has become my best friend.
283 what is the defensive power of death helmet? 35
280 after the red poison is used on the enemy? General hall
259 has the most guards? Which of the following is not the name of a person but the name of a sword? Which swordsman is Cai Yu's name? 2-2
what is the magic power required to wear 285 dragon scale bracelet? Crazy box
when upgrading weapons, what are the main attributes of weapons affected by the purity and quantity of black iron ore? Durability
What are the three correct ingredients for 231 green poison? Maggot eggs, how long does it last? 2 minutes
236 Mage Level 19 can practice instant movement and what magic, earth soul and life soul? 7
how long does 262 memory Bracelet last? 6
how many levels of level 263 2 magic shield can be cultivated? Grade 34
264 how many kinds of hair colors are there? 28
286 how many levels of jungle leopard can set up a stall? How much mental power does level 3
287 ghost suit need? 27
what effect does 288 reverse magic attack have? Fire wall
what items below 289 can't be bundled? Taiyangshenshui
290 what is the shortcut key to open or close the character window? How many versions of F10
291 legend world have been updated since its public test? More than 10
292 in the legendary world, who are the most powerful, loyal and selfless guardians? Sword guard
293 how much prestige does it take to build the blade of destiny? 1
how many levels of 294 coral rings can you wear? Among the following monsters at level 25
295, which one gets the least experience after being knocked down? The scarecrow
applied for the siege of Shacheng on 18 June. When can it start? How much attack power does 297 jihadi helmet need? 40
298 half month's attack power is? 5-10
what is the defensive power of 299 Tianzun Taoist robe? 4-9
300 necessary items for attacking Shacheng can be obtained by killing what monster? Anti magic. 906
227 which version of the legendary world is yuanshenfen? 1.905
228 which version of the legendary world is the quintessential realm; Defense value
281 which two monsters have the closest magic defense value? What is the weapon of 22
273 curse + 1? What is the combined skill of fire poison attacking heart
202 Battle + method? Hairdresser
what kind of attack does the giant beast fear? 12
at least how many levels of 250 warriors can wear ares armor? How many arenas are there in level 27
251? How long does the green wood key last? Attack speed + 2 attack + 1
271 which hand does Master Tongtian eat with chopsticks? Is the wearing requirement of the left hand
272 three eye wristband mental strength? 31
215 how many levels of Yuanshen can you cultivate Dawu? 53
216 which kind of props can instantly fill the vitality value? Guiyuan pill
217 is it necessary to cultivate the spirit of heaven? Which country did the method of "fighting gold with blood" first come from? The shortcut key to switch between Wu and Yuanshen? CTRL + e
224 which version of the legendary world is it? 1.90
225 legendary world 1; lt? Gold mine
233 how many rows can a server have at most? Unlimited
234 what is the effect of taiyangshenshui? Yujing bottle
which NPC below 276 is the entrance of Shenwei prison and will not be able to run? 10
239 who do you want for hair dyeing function? 1? What's the combination skill of the 203 + method? At level 33
244, when will the character mining action stop? How many points does the 245 powerful stamina magic water increase the maximum health value in 180 seconds? What are the butcher coordinates of the mechanism beast and forbidden area demon lord
282 Cape village? Magic comes from the heart
226 which version of the legendary world is Qiyue infinite? 8-16
212 what is the magic defense attribute of Panlong gold armor? Magic attack
241 what are the necessary raw materials for green and red poison configuration? Ye ye
242 what is the Taoist attribute of Panlong golden armor and what will the enemy rece? How many kinds of monsters are there in the 249 forbidden area; Physical strength? The boss of zombies
how many levels of 266 characters can set up stalls? What's the weight of 277 Panlong gold armor? 24
278 which keys are sold in Zhongzhou groceries. 907
229 legend world 1; Defense value; lt; Mana? Anti magic
260 what color is the clouded leopard of Shacheng city leader, scorpion tail, cannibal leaves
232 which kind of ore is the heaviest? Physical attack
under what circumstances are weapons held by 247 likely to be cursed? How many non attacking monsters are there among the three
252 handed down? What are the attributes of the forbidden area Magic Cave
270 gale necklace? There is no stipulation
257 which of the following equipment is the most difficult to fall out after death. 920 version name? 20
how much mana does 267 soul Bracelet need to wear? What is the weapon with 24 points
268 attack speed - 1? The blade of prayer
269 where is the most dangerous? 6
253 how much prestige can master gain when his apprentice is promoted from level 24 to level 25? How much lower than 30%
238 HP? lt? Increase 30 health and 40 mana
235 use the weather scroll in the new prop? How many flying monsters are there in black
261? What is the combined skill of "204 FA + Dao" under the thunder of fury? What's the combination skill of God's call
205 Dao + Dao? Tiannu Sanhua mantra
206 which kind of spirit stone can increase spirit and power? 5-7
243 in the legendary world, how many level mages can sece the bronze hammer hand? 50
246 White Snake demon's attack mode is. 910 version name? Kunlun black iron
207 which kind of spirit stone can increase soul power? Pray
Where will 258 corpse tyrant appear? When your pet kills other players,
which of the following three NPCs will disappear in the battle of 248 Shacheng siege? 5
218 how many souls do you need to cultivate the mind world? How many items will bamboo sword have when new born? 4
275 which of the following props can capture heart demons? Huoyan
237 how much discount can members enjoy when purchasing goods in Shacheng?
208 what kind of Lingshi can increase the spirit of the 201 Battle + road combination technology is what? How many levels of 4-10
213 Yuanshen can achieve Mingxin? 46
214 Yuanshen how many levels can reach Peiyuan? Jingke
221 "the way of fighting with hands, the inner spirit... Seizing it is like fearing tigers" is the sword of which kind of sword? 16
265 what is the occupation of the king of the dead? 2-3
what is the attack power of 284 warrior bracelet? 1? 2 points
254 what do you fear most? Broadsword
255 which of the following magic arts does the most damage to people? Ice archery
256 how long does it take to get the weapon back after upgrading the weapon? The spirit of vegetation
209 what value can Saussurea involucrata continue to supplement? Health value
what value can deep-sea reefs continuously supplement? Magic value
what is the defense attribute of 211 Panlong Golden Armor