Mainly introduce four channels through which GCS affects financial stability, they respectively are: use GCS as a general value store, widely used for payment, risk exposure of financial institutions and confidence coefficient magnification.

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Setting up systems or regulations to manage the structure and issuance of non-national currencies can increase the possibility of cryptocurrency replacing the traditional sovereign currencies.

First describe some considerations made by the UK when introducing CBDC—that is, to maximize the benefits and minimize the risks. Then introduce some problems about CBDC discussed in this paper and proposes some solutions. The problems discussed in this paper include the impact on payment and financial stability, etc., and mention that the functions and terms of CBDC should be improved and should select the technical support suitable for CBDC.

Some central banks aim to solve challenges, such as inefficient payment systems or reducing the use of cash, while others explore future capabilities, such as protecting monetary sovereignty.