Discuss the two implications of the digital yuan of the Korean financial system

The digital renminbi is the digital media of the renminbi to be the driving force for the transformation of technology based on the new value model that has always existed in the information age, promote the new development of the financial economy and help to better protect the national economy. Digital yuan advertising can provide digital renminbi assistance, improve the quality and efficiency of business development, and improve the digital business process. Compared with traditional RMB version models, digital RMB also has unique features in the integration of design, broadcast and navigation.

First, the digital renminbi is not fake and preserves anonymity. Only the advertiser, the social group and the people cannot create. Controllability means the use of digital yuan data and can only be tracked by medium-sized banks. Although this project is still controversial, as the developer of e-RMB, we must support the promotion of e-RMB and protect consumer information security and better rules and interests. The secret is that even though banks and merchants collaborate without benefiting consumers, they cannot gain insight into historical changes and usage patterns like the digital renminbi.

Second, the digital renminbi offers low cash flow and security. The renminbi cannot be traded multiple times, and if a recession occurs, the market should be closed in time. The digital renminbi does not cause losses to either side during the negotiation. Security procedures can be protected by physical means or by using asymmetric encryption techniques.

Third, the digital renminbi is separable, flexible and programmable. The RMB may fluctuate based on its actual book value, the movement lets know that the RMB may move in the market currency. for digital yuan advertising that can be used by mid-sized banks.

Finally, the digital renminbi has passed, and the renminbi recognizes the free trade of renminbi and real renminbi by exporting to the exchange and exporting real money as much as possible during the delivery time. The emergence of the digital renminbi has responded to the need for financial improvement in the information age. is a cost effective and efficient way to spend money. On the other hand, the emergence of the digital yuan will have implications for the security of the financial system and the financial system. Therefore, it is necessary to specify the double impact of the digital renminbi of the Korean financial system and to prepare the necessary safeguards.

(1) The application of the digital yuan helps to improve the performance of the financial system.

The introduction of the digital renminbi in the financial sector enables financial services to use advanced information technology and increase the efficiency of financial services. When the digital renminbi is announced widely, it will increase revenue and make a big difference. Changes in the way money is distributed can lead to changes in the financial system. Therefore, the large diffusion of the digital yuan will lead to further changes in financial management and operations. In the context of large-scale use of the digital renminbi, existing electronic payments must be upgraded and adapted to meet the actual needs of digital renminbi dissemination.

On the other hand, the introduction of blockchain technology in the RMB digital platform can further increase the efficiency of payments from the first phase of payment to the second phase. Meanwhile, digital yuan advertising helps reduce the cost of cross-border payments. The introduction of the digital renminbi may bring further changes in the currency balance and speed of circulation, further reduce the demand for real currency and increase the strength of the exchange rate of financial assets with the support of digital information . With the rise of the digital renminbi, deposits have been turned into cash and banks will face economic risks, which will also have some financial impact.

As a result, commercial banks and financial institutions will inevitably improve their governance and management systems according to the needs of medium-sized banks, and again react positively to the impact of digital yuan advertising. In the long run, digital yuan advertising will lead to more financial competition, but stabilize the financial environment over time and have a positive impact on the development of the national economy.

(2) The digital yuan has implications for financial security.

In considering the benefits of the digital renminbi, we should be aware that the digital renminbi may have implications for financial security. First, it changed the relationship between the intermediary bank and the company. Under normal financial circumstances, commercial banks should accept advice, supervision and evaluation from central banks.

With the advent of the digital renminbi, midsize banks and commercial banks can shift from relationship managers to competitors. In the event of a financial exchange or other catastrophic event, depositors transfer their bank account into digital renminbi, reducing the risk. , thus reducing business losses and industry revenues, making the economy unchanged.

Second, it will affect existing financial management. With the proliferation of the digital yuan, the first financial management is not easy to adapt to the actual needs of the digital yuan management. Especially against the background of financial turmoil or volatile economy, many citizens will use businesses to convert their financial resources into yuan and beyond the risk for medium-sized banks, thereby reducing the impact of financial problems and financial changes.

In these contexts, if financial management is not new and incomplete, it will be difficult to manage fluctuations in risk. Unlike the digital renminbi like Bitcoin, the digital renminbi provided by the intermediary bank always has the intermediary bank as its core. The main objective of counterfeiting, competition from the digital yuan creates cybersecurity.