THE SIGNIFICANCE OF DIGITAL MONEY ON MONETARY AND CREDIT THEORY, AND INFRUENCE ON MONETARY SYSTEM AND MONETARY POLICY

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We think as if the presence of digital money is elehind by electronic settlement means like as debit card, Internet-banking and new makes of bank (for example virtual bank). Electronic settlement means have limitations in the safety countermeasure for systemic risk and in the standardization of connecting various systems. These need high communication costs and charges on the store side, which can't be ignored. These problems can be avoided in case of digital money, and use of it will spread out from small payment gradually.We tried to clear the nature of digital money (in narrow sense) theoretically.1 Though original money was gold in market economy, bank note and deposit currency were born as the trust system was organized. They function as money though these are lent by trust (trust money). As the issuing rights are concentrated on the central bank, banks become to give credit by the deposit currency.2 There are two types of trust money, one is a deposit currency, in this case a buy … More er's payment directions document circulate, and the other is the bank note, the debt bill of the bank circulates. Deferent from the electronic settlement means which is the electronicization of the transferring of deposit currency, the digital money is electronicization of bank note circulate by the credibility of originator.In occasion, it may happen that the exclusive issue of the central bank collapses. Argument over the nature of digital money is the reprint of the currency controversy in 19-century England. At that time, though it was combined stemly by standard money (gold), bank note issue was eased gradually and the control currency system at present was built.The issue of the trust money isn't prescribed uniquely for the standard money (as gold).It is depend on how much digital money are presumed to be able to spread, digital money shall have what kind of influence on the financial system and on financial policy.We think the present argument is only an entrance, because we can think the situation that the digital money circulates widely not only as the transfer means, and he possibility that it stands on its own feet and circulates independently from the central bank note.If we pay attention to the way of using money as a communication tool, for example community currency, we can think about the market economy and the money altematively. The possibility of digital money will grow more by thinking of present market economy relative. Less