The Design and Empirical Research of One Main Stem with Others Branches Monetary System Based on Blockchain Technology

摘要

The European debt crisis impacted the international monetary status of the euro as well as triggered a large number of discussions and opinions on the design of the monetary mechanism of the eurozone in academic circles. This study adopts DEA method and takes the euro area as an example to evaluate the two different monetary systems from the perspective of technical efficiency, pure technical efficiency and scale efficiency. Through empirical analysis, it can be found that when the one main stem with many other branches monetary system is suffering from crisis, the system is more stable. In contrast, the current scale of the euro monetary system is inefficient which cause a lot of waste of resource. This article gives a new currency system based on blockchain, which can maintain the existing euro-structured currency system, and is compatible with the euro zone sovereign countries to issue their own sovereign electronic currency, and the technology is more efficient. This article has reference significance for trying to solve or improve the European debt crisis.