The Development Of E-money And Research On Its Influence To Monetary Policy

Since human beings began to exchange goods, money had acted as an important role in the transactions. With the development of economy and technology, money has gone through different stages. At the beginning, it was substantial money acting as the intermediary of transactions. Then it developed to be token money (coins and bank notes), In the 1970s, the Bretton Woods Regime collapsed. Us dolor wasn't related to gold and gold didn't serve as money. Money gradually changed its form from token money to credit money, totally abstract value symbol. At the end of the 20th century, the development of science and technology and the speed of economic integration have accelerated. Then changes of money's form had also sped up. The human society is under the important period that money changes its form from paper money to e-money. Although e-money is subjected to the traditional money, it will replace the traditional money in future with its more and more extensive using. Then some financial risks will accrue and affect the business of commercial bank, the issue and the independence of monetary policy. So to have comprehensive reach on e-money is very important now. And then we can put up some advices for central banks when they want to issue some money policies or to evaluate the effect of money policies that they have executed. Based on research made by other scholars, I carry out this work. First, I compare the development of e-money in abroad and domestic. And I discuss the foreground of e-money in our country and some problems it will cause. Then I discuss the effect that e-money will cause to the monetary policy from four different fields. At last, I give my opinions on how to deal with the problems that are caused by e-money.