CBDC(Central Bank of Digital Currency)의 국경간 결제에 대한 연구
A Study on the CBDC(Central Bank of Digital Currency)’s Cross-border Payment
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초록
디지털라이제이션(Digitalization) 심화에 따른 현금이용도 감소, 민간부문의 스테이블 코인의 발행 등으로 각 국가들은 중앙은행 디지털화폐(CBDC)에 대한 연구와 실험을 하고 있다. 이 논문은 CBDC가 국경간 결제에 적용될 경우에 대한 시사점을 도출하고자 한다. CBDC는 이용자 기준, 구현방식, 운영방식, 배포 및 보유 형태에 따라 다양하게 구축이 가능하다. 금융기관의 구축이 미흡하거나 현금 이용률이 낮은 국가들이 적극적으로 CBDC를 발행하고 있다. 중국을 제외한 주요국들은 CBDC에 대한 연구를 지속하고 있으나 발행에 있어서는 신중한 태도를 보이고 있다. CBDC의 발행에 시간이 걸린다고 하더라도 결국에는 CBDC를 발행하게 될 것으로 예상된다. 이때 각 국가간 결제에 CBDC가 사용되는 경우 상호운용성 문제를 해결해야 할 것이다. CBDC는 국민의 재산권과 밀접하게 연결되기에 금융기관 뿐 아니라 국민적 합의도 이루어야 한다. 또한 국제통화시스템이 CBDC를 기반으로 구축될 경우를 고려하여 리스크 관리를 통해 효율적으로 운영할 수 있어야 할 것이다.
Abstract
Purpose : Due to the deepening digitization, each country is conducting research and experiments on central bank digital currency (CBDC) due to a decrease in cash use and the issuance of stable coins in the private sector. This paper attempts to derive implications for the case where CBDC is applied to cross-border payments. Research design, data, methodology : First, we will look at the overall overview of CBDC and the CBDC response policies of major countries. CBDC analyzes the trends of studies on this because it affects macroeconomics such as financial stability and monetary policy. After that, we intend to derive implications when applied to cross-border payments. Results : CBDC can be constructed in various ways according to user standards, implementation methods, operation methods, distribution and retention types. Countries with insufficient establishment of financial institutions or low cash utilization are actively issuing CBDCs. Major countries except China continue to study CBDC, but they are cautious in publishing it. Conclusions : Even if it takes time to issue CBDC, it is expected to issue CBDC. At this time, when CBDC is used for payments between countries, the interoperability problem should be solved. CBDC is closely connected to the property rights of the people, so not only financial institutions but also national consensus must be reached. In addition, considering the case where the international monetary system is built on the basis of CBDC, it should be able to operate efficiently through risk management.
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