Hybrid Digital Money for Digital Economy Development
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Abstract
This paper presents the design of digital money in the modern context, encompassing both centralized systems and decentralized systems, and compares their advantages and limitations in terms of scalability, programmability, and trust models. The study employs three case studies: the Digital Yuan (e-CNY), Centralized Exchanges (CEX), and Potomac Parametric Insurance Platform. Centralized systems demonstrate high efficiency, scalability, and usability, supporting large-scale adoption, while blockchain and smart contracts offer strong advantages in automation and transparency but face limitations in user experience. To address these challenges, this paper proposes the concept of Hybrid Digital Money, which integrates payment infrastructure with business logic on blockchain. This approach aims to create a system that achieves efficiency, transparency, and composability, thereby supporting the development of the future digital economy.
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