The application and development of CBDC in the “Belt and Road”: Take Singapore Ubin Project and m-CBDC Bridge as examples
- DOI
- 10.2991/978-94-6463-098-5_164How to use a DOI?
- Keywords
- CBDC; the Belt and Road; Ubin Project; m-CBDC Bridge
- Abstract
With the development of digital finance, some countries have begun to develop their own central bank digital currency (CBDC), hoping to maintain the legal status of sovereign currency and further promote the upgrade of trade while improving the level of digital financial services. As a national strategy led by China, “the Belt and Road” has promoted strategic cooperative relations with countries along the route from different aspects and provided various business application scenarios for the cooperative development of CBDC. Taking the Sin- gapore Ubin Project and m-CBDC Bridge as examples, this article analyzes the CBDC projects and cooperation projects in the countries along the route. In terms of future challenges encountered in carrying out CBDC cooperation under “the Belt and Road”, it is necessary to pay attention to the coordinated development with different countries. Finally, China can also extend CBDC cooperation to the Western European market through the strategy, thereby promoting the interna- tionalization of the e-CNY.
- Copyright
- © 2023 The Author(s)
- Open Access
- Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.
Cite this article
TY - CONF AU - Weihua Cai PY - 2022 DA - 2022/12/27 TI - The application and development of CBDC in the “Belt and Road”: Take Singapore Ubin Project and m-CBDC Bridge as examples BT - Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022) PB - Atlantis Press SP - 1445 EP - 1449 SN - 2352-5428 UR - https://doi.org/10.2991/978-94-6463-098-5_164 DO - 10.2991/978-94-6463-098-5_164 ID - Cai2022 ER -