An Analysis on the Characteristics of E-money and its Fundamental Theories

In comparison to traditional money(E-money),electronic money owns such features as quasi-money,diversified issuing entities,quick circulation speed,and new risks.Some features of E-money confirm the economic state described by neo-pecuniary economics and theory of internally generated money supply.An analysis is made on E-money on the basis of neo-pecuniary economics and theory of internally generated money supply.The conclusion is that in circumstance of complete circulation of E-money,the central bank will gradually lose the monopolized money-issuing power,and that all commercial banks,other non-banking financial institutions,even non-financial institutions can issue E-money,with inflation probably not to exist any more and money in traditional meaning likely to disappear.