对数字人民币的计量框架进行升级，并运用币串和全局统一账本等技术 历史上每一次货币形态的变化都是科技进步和经济发展所推动的。从物物交换，到贝壳作为一般等价 物，再到金属货币，再到北宋时期产生的世界上最早纸币——交子。随后，基于商业银行信用的银行券 出现，并逐渐被以国家信用为支撑的中央银行发行的法定货币取代。如今，随着网络技术、移动支付和 数字经济的发展，央行数字货币已成为法定货币的升级方向。 每一次货币形态变化的过程，都会伴随官铸钱与私铸钱之争。现代银行体系下，如果没有中央银行货币 发行，私铸钱流通会增加金融体系的脆弱性。一国内有多家货币发行方，每家货币发行方的资产质量差 异会导致货币价值的差异。多种货币以不同价格交易，会增加交易成本，降低银行体系稳定性，货币的 记账单位功能也会存在不确定性。 私铸货币导致的货币单一性问题需要用央行发行的法定货币来解决。货币的单一性问题，也就是按面值 的可互换性，一国的货币在支付中都应该是等值的。私铸货币要实现这种可兑换性，并要保障抵押品的 价值安全，就必须无条件按面值兑换成法定央行货币。 中央银行作为最后贷款人，随时为需要资金的银行提供流动性，并通过严格的央行监管和存款保险机 ...

Core Insights - The digital renminbi is currently classified as M0 (cash) and does not earn interest, which may lead to a loss of time value for idle assets held by individuals and businesses [2][3] Group 1: Digital Renminbi Development - The People's Bank of China (PBOC) has made significant progress in the pilot implementation of the digital renminbi, necessitating reforms and upgrades in both theory and practice [2] - The digital renminbi operates under a 100% reserve requirement, meaning that funds deposited into digital wallets are returned to the central bank [2] - There is a need to enhance the monetary derivation capacity of the digital renminbi as the economy develops [2] Group 2: Monetary Framework and Historical Context - Upgrading the measurement framework of the digital renminbi is essential to align the money supply with economic growth and price expectations, while also increasing the engagement of commercial banks and users [3] - Historical changes in currency forms have been driven by technological advancements and economic development, highlighting the need for a legal digital currency to maintain monetary unity and financial system security [4] - The dual-layer operational structure of the digital renminbi is designed to address the integration of central bank and commercial bank currencies, ensuring the maintenance of monetary unity and financial safety [4]