Designing and using central bank digital currency: China's experience

2021 ◽  
Vol 27 (10) ◽  
pp. 2349-2364
Author(s):  
Yuliya V. KUVAEVA ◽  
Marina V. CHUDINOVSKIKH ◽  
Elena A. SEDUNOVA
Keyword(s):  
Central Bank ◽  
Bank Of China ◽  
Digital Currency ◽  
Study Results ◽  
Significant Difference ◽  
National Bank ◽  
The Russian Federation ◽  
The Many ◽  
Monetary Circulation

Subject. This article examines the main characteristics of a central bank digital currency and describes the procedure for designing and using the digital yuan in China. Objectives. The article aims to consider the positions of the leading countries on the need to introduce a digital currency, its risks and development prospects, and analyze the feasibility and main provisions for the introduction of the digital yuan into monetary circulation. Methods. For the study, we used economic and statistical analyses, and comparison. The National Bank of China statistics were used when preparing and conducting the study. Results. The article presents an analysis of the experiment on the implementation of settlements using the digital yuan and determines the most significant difference between the digital yuan and the cryptocurrency. Conclusions. China is the first country to launch a pilot test of the digital yuan, which has so far been successful. Despite the many advantages, the internationalization of the yuan looks possible in the long term only. The presented data can be used in the development and conduct of an experiment on the introduction of the digital ruble in the Russian Federation.

scholarly journals Reproductive Performance Following Hysteroscopic Surgery for Uterine Septum: Results from a Single Surgeon Data

2021 ◽  
Vol 10 (1) ◽  
pp. 130
Author(s):  
Ertan Saridogan ◽  
Mona Salman ◽  
Lerzan Sinem Direk ◽  
Ali Alchami
Keyword(s):  
Reproductive Performance ◽  
Observational Studies ◽  
Patient Characteristics ◽  
Reproductive Outcomes ◽  
Hysteroscopic Surgery ◽  
High Quality Evidence ◽  
Study Results ◽  
Significant Difference ◽  
Uterine Septum

Uterine septum can negatively affect reproductive outcomes in women. Based on evidence from retrospective observational studies, hysteroscopic incision has been considered a solution to improve reproductive performance, however there has been recent controversy on the need for surgery for uterine septum. High quality evidence from prospective studies is still lacking, and until it is available, experts are encouraged to publish their data. We are therefore presenting our data that involves analysis of the patient characteristics, surgical approach and long-term reproductive outcomes of women who received treatment for uterine septum under the care of a single surgeon. This includes all women (99) who underwent hysteroscopic surgery for uterine septum between January 2001 and December 2019. Of those 99 women treated for intrauterine septum who were trying to conceive, 91.4% (64/70) achieved pregnancy, 78.6% (55/70) had live births and 8.6% (6/70) had miscarriages. No statistically significant difference was found in the live birth rates when data was analyzed in subgroups based on age, reason for referral/aetiology and severity of pathology. Our study results support the view that surgical treatment of uterine septa is beneficial in improving reproductive outcomes.

Central bank digital currency: the future of institutional changes in the banking sector

2021 ◽  
Vol 2021 (2) ◽  
pp. 26-48
Author(s):  
Volodymyr MISHCHENKO ◽  
◽  
Svitlana NAUMENKOVA ◽  
Svitlana MISHCHENKO ◽  
◽  
...  
Keyword(s):  
Central Bank ◽  
Financial Stability ◽  
Banking Sector ◽  
Central Banks ◽  
Credit System ◽  
Bank Supervision ◽  
Bank Of China ◽  
Digital Currency ◽  
Financial Monitoring ◽  
The Impact

The purpose of the article is to reveal the essence and features of the introduction of digital currency of central banks and their impact on the conditions of monetary policy, financial stability, as well as institutional transformations in the development of national banking systems. The study is based on an analysis of projects of issuance and use of digital currencies of the ECB and central banks of leading countries, as well as the results of pilot projects of the National Bank of China on the use of the digital yuan and NBU on the e-hryvnia circulation. It is proved that digital currency of the central bank should be considered as a new dematerialized form of national currency in addition to cash and non-cash forms. Particular attention is paid to the study of the impact of the use of digital currency by central banks on the main parameters of economic policy. The main directions of potential influence of digital currency use on transformation of mechanisms of realization of monetary, budgetary and tax, macroprudential policy, maintenance of financial stability, activization of action of channels of the monetary transmission mechanism, and also on reforming of system of the state financial monitoring and bank supervision are substantiated. It is determined that one of the consequences of the use of digital currency will be the ability to ensure full control over all monetary transactions, which will help reduce the shadow economy and corruption. Structural and logical schemes of centralized and decentralized models of issuance and circulation of digital currency of central bank have been developed, directions of changes in the structure and functions of commercial and central banks, as well as in the structure of the financial and credit system in general have been substantiated.

Metabolic aspects of polycystic ovary syndrome

1997 ◽  
Vol 6 (2) ◽  
pp. 69-79
Author(s):  
Robert A Wild
Keyword(s):  
Polycystic Ovary ◽  
Clinical Approach ◽  
Metabolic Abnormalities ◽  
Short Term ◽  
Chronic Disorder ◽  
Clinical Syndromes ◽  
Study Results ◽  
The Many ◽  
Pco Syndrome

Metabolic abnormalities in patients with PCO syndrome demand that we change our clinical approach to PCO syndrome. No longer should the approach be short-term and driven by symptoms, rather it must recognize that PCO syndrome is a chronic disorder. Associated metabolic abnormalities may have long-term sequelae and their recognition influences not only how we evaluate patients, but also how we implement prevention. Observational, interventional, epidemiological and now mechanistic studies need to focus on interactive issues. Outcome study results are awaited to determine the likelihood of sequelae and to optimize preventive strategies. The PCO paradigm is a complex biological experiment on nature that offers a superb opportunity to begin to understand the many ways in which hormones affect atherogenesis. It is important to understand the clinical syndromes encompassed in this paradigm. Atherogenic consequences are still responsible for the majority of deaths in the industrialized world!

The Origins and Establishment of the First Bank of the United States

1956 ◽  
Vol 30 (4) ◽  
pp. 472-492 ◽  
Author(s):  
H.Wayne Morgan
Keyword(s):  
United States ◽  
Nineteenth Century ◽  
Central Bank ◽  
The United States ◽  
Industrial Economy ◽  
Great Hope ◽  
National Bank ◽  
The Republic ◽  
The Many

In the early days of the Republic, opposition to a national bank derived from fear, ignorance, and a basic cleavage of prophecy. To many persons banks were synonymous with speculation; others viewed them as “aristocratic engines” designed to advance the interests of the few over those of the many. Most important, however, was the discrepancy of viewpoints between those who envisaged an agricultural nation and those who already sensed the embryonic stirrings of a vast industrial economy. To the htter, a strong central bank seemed indispensable. The struggle to establish the First Bank of the United States emphasized the rural-urban cleavage that was to influence much nineteenth-century history. It was also a conspicuous early recourse to implied Constitutional powers, anathema to States' Rights defenders and a great hope of businessmen in a still feeble nation.

scholarly journals CRIMINAL CODE OF THE RUSSIAN FEDERATION TWENTY YEARS: ACHIEVEMENTS AND MISSED OPPORTUNITIES

2017 ◽  
Vol 21 (3) ◽  
pp. 130-140
Author(s):  
G. L. Minakov ◽  
L. A. Abashina
Keyword(s):  
Russian Federation ◽  
Economic Factor ◽  
Criminal Code ◽  
Forced Labor ◽  
Final Decision ◽  
Missed Opportunities ◽  
Significant Difference ◽  
The Russian Federation ◽  
Twentieth Anniversary ◽  
The Many

This paper analyzes the criminal legislation of the Russian Federation, which is 1 January 2017 marks the twentieth anniversary of the entry into force. Draws attention to a number of problems associated with the many changes made to the text of the Law. There is a significant difference between a modern edition of the Criminal code of the Russian Federation of the sample 2016 from the Criminal code of the Russian Federation at the time of its adoption in 1996. Indicates the number of egregious errors and omissions of the legislator in constructing the norms, not all of which today are corrected. It is stated that hitherto the criminal code of the Russian Federation in full is not entered into force. In particular, not put into effect the provisions of the Criminal code of the Russian Federation on the punishment in the form of arrest, despite the expiry of the deadline of entry (2006). Thus it is proved that stipulated by the legislator in the Criminal-Executive code of the Russian Federation of conditions of serving of arrest for much stricter than the conditions of detention of the convict in jail, which violates the principle of fairness criminal law. The authors emphasize that the economic factor in justifying the imposition of arrest generally not taken into account. In this connection, the conclusion about the need to exclude these norms of the current legislation. It is noted that a similar situation exists with the new punishment in the form of forced labor. The paper argues that the inability of the purpose of forced labor may result in adverse legal consequences for the persons serving compulsory work, corrective labour and restriction of freedom in case of malicious evasion from serving of the latter. The authors note, requires a final decision and issue the death penalty.

scholarly journals Association of Microalbuminuria and Bevacizumab Therapy Outcomes in Diabetic Retinopathy Patients

2021 ◽  
Vol In Press (In Press) ◽  
Author(s):  
Seyed Ahmad Rasoulinejad
Keyword(s):  
Renal Failure ◽  
Diabetic Retinopathy ◽  
Fast Blood Sugar ◽  
Therapy Outcomes ◽  
Medical Sciences ◽  
Urine Albumin ◽  
Study Results ◽  
Significant Difference ◽  
Before And After

Background: Diabetic retinopathy (DR) is a visual impairment-related eye disease developed by long-term hyperglycemic status. Diabetic condition in DR patients leads to diabetic organopathies (e.g., renal failure). Albuminuria, as a hallmark of renal failure, can be correlated with visual indicators in DR patients. Objectives: This study aimed to investigate the role of albuminuria status in visual acuity (VA) and bevacizumab therapy outcomes in DR patients. Methods: In this retrospective study, 48 DR patients were admitted to the Ophthalmology Center of Ayatollah Rouhani Hospital, affiliated with Babol University of Medical Sciences, Babol, Iran. The retinopathy status and VA were identified before and after treatment through 45 days of bevacizumab therapy. In addition, fast blood sugar, hemoglobin A1c, urine albumin, and urine creatinine were evaluated using standard laboratory methods. Results: The VA value before treatment in microalbuminuric DR patients (0.106 ± 0.036) was significantly lower than non-microalbuminuric DR patients (0.347 ± 0.286; P < 0.001). Furthermore, VA value after treatment in microalbuminuric DR patients (0.115 ± 0.071) was significantly lower than non-microalbuminuric DR patients (0.355 ± 0.272; P < 0.001). There was no significant difference in the percentage of VA increase between microalbuminuric and non-microalbuminuric patients. Moreover, the albumin-to-creatinine ratio (ACR) was correlated with a lower VA level before and after treatment (P < 0.001 for both). There was no correlation between the percentage of VA increase with ACR, albumin, and creatinine. Conclusions: The current study results showed that different VA before and after bevacizumab therapy status was correlated with microalbuminuria status. Additionally, microalbuminuria status did not affect the percentage of VA increase in the treatment of DR patients.

scholarly journals Influence of long term stress exposure on somatisation symptoms outcome

2004 ◽  
Vol 4 (4) ◽  
pp. 28-31
Author(s):  
Sabaheta Hasić ◽  
Emina Kiseljaković ◽  
Radivoj Jadrić ◽  
Belma Zečević ◽  
Nešina Avdagić ◽  
...  
Keyword(s):  
Chronic Stress ◽  
Control Group ◽  
Stress Exposure ◽  
War Stress ◽  
Control Subjects ◽  
Study Results ◽  
Significant Difference ◽  
Student’S T ◽  
And Control

Long term stress exposure results in somatisation symptoms appearance. Cardiovascular, respiratory, gastrointestinal and muscle-bone symptoms arise because of intensified activity of autonomic nervous system caused by chronic stress. The aim of the study was to examine the relationship between long term war stress exposure and appearance of somatisation. 40 students of health-care faculties in Sarajevo, of both sexes, were included in investigation and divided in two groups-somatisation and control. Somatisation group subjects (N=20) lived in B&H under war conditions, from 1992-1995. Control subjects (N=20) spent the same period outside B&H. For evaluation of somatisation symptoms we used SCL-90-R test. The obtained data were statistically evaluated using Student’s t-test and χ2 test. Confidence level was set at ρ < 0,05. Our results showed statistically significant difference in somatisation level between somatisation and control subjects group. Different intensity of appearance of certain symptoms in male and female was established. The score of somatisation dimension between somatisation and control group showed statistically significant level (p < 0,0001). Study results confirmed correlation of chronic stress exposure (living in war environment) and somatisation symptom appearance. Individual organic systems had various level of symptom expression. The influence of sex on intensity of individual symptoms of somatisation is possible.

scholarly journals Modern models of systems of central bank digital currency

2021 ◽  
Vol 37 (2) ◽  
pp. 205-240
Author(s):  
Dmitry Kochergin ◽  
Keyword(s):  
Central Bank ◽  
Central Banks ◽  
Payment Systems ◽  
Bank Of China ◽  
Digital Currency ◽  
Cross Border ◽  
Economic Interpretation ◽  
Key Characteristics ◽  
National Implementation ◽  
Retail Payments

The article examines modern models of digital currency systems of central banks (CBDC) for retail payments and wholesale settlements. The study gives economic interpretation and defines the key characteristics of central bank digital currencies, identifies the features of the main models of digital currencies systems and analyzes the most advanced national implementation projects of CBDC. The study concludes that the digital currencies of central banks are a new (digital) form of fiat money. The implementation of digital currencies of central banks is due to the need to improve the efficiency of the monetary and payment systems and is aimed at preserving of the central banks as a monetary issuer. The main advantages of digital currencies for retail payments are the offer of a highly liquid, low-risk and universally accessible means of payment. The key benefits of wholesale digital currencies are to provide faster, safer, and cheaper cross-border payments. Among the models of digital currencies systems for retail payments (R-CBDC) the model of hybrid system is characterized by the best reliability and speed when processing a large number of payment transactions. Therefore, these systems are the most promising for implementation. Between the models of systems for wholesale payments (W-CBDC) systems with a universal digital currency are the most suitable for eliminating the main problems of cross-border payments. However, the implementation of such systems may require a large number of technological, managerial and financial changes in the payment systems of central banks. Currently, the most advanced project for issuing R-CBDC is the DCEP system of the People’s Bank of China, which is implemented on the basis of a hybrid model. W-CBDC projects are implemented jointly by the central banks of the leading countries, as they require financial and technological unification of settlements. Most projects of W-CBDC involve the use of systems with a convertible or universal digital currency.

scholarly journals Digitalization of the National Currency: World and Domestic Experience

2021 ◽  
pp. 4-11
Author(s):  
A.V. Ivanushenko ◽  
◽  
E.A. Plyusnina ◽  
A.A. Iatsyk ◽  
Keyword(s):  
Central Bank ◽  
Russian Federation ◽  
National Currency ◽  
Republic Of China ◽  
Digital Currency ◽  
Monetary System ◽  
National Currencies ◽  
Level Of Economic Development ◽  
The Russian Federation ◽  
High Level

The article examines the theoretical aspects of the concept of «digital currency» are studied, the main differences between digital currency and cryptocurrency are indicated. The concept of the digital national currency of the People's Republic of China, the digital yuan, has been predicted and the results of the ongoing digitalization have been identified, which in the future, if the digital yuan project is successfully implemented, will lead to the abandonment of cash. The theoretical aspects of the concept of «digital ruble» are studied, the main differences between the existing forms of money in the Russian economy are outlined: cash, non-cash money and digital money. Based on the study of the re-port presented by the Central Bank of the Russian Federation, potential options for the technical implementation of digital currency within the existing monetary system were identified, and their characteristics were also presented. An assessment of the expected result of the implementation of the concept of the digital ruble is given: the potential ad-vantages and risks of the digital ruble are identified and their comprehensive analysis is carried out. It is concluded that the process of digitalization of national currencies is relevant for the world community, being an indicator of the high level of development of the country's economy. The result of the analysis of the digital ruble project presented in the report of the Central Bank of the Russian Federation is the conclusion about the ambiguity of its implementation at the current level of economic development of our country.

Comparison between short-term and long-term post-operative evaluation of sleep apnoea after uvulopalatopharyngoplasty

1995 ◽  
Vol 109 (4) ◽  
pp. 308-312 ◽  
Author(s):  
Shao-Jung Lu ◽  
Shyue-Yih Chang ◽  
Guang-Ming Shiao
Keyword(s):  
Sleep Apnoea ◽  
Obstructive Sleep Apnoea Syndrome ◽  
Sleep Study ◽  
Obstructive Sleep ◽  
Study Results ◽  
Significant Difference ◽  
Long Term Follow Up ◽  
Operative Evaluation

AbstractFor a long time uvulopalatopharyngoplasty (UPPP) has been used to treat the obstructive sleep apnoea syndrome (OSAS). The diverse surgical effects, the inadequate understanding of operation effect consistency, the possibility of disease progression, and the few reported papers for long-term evaluation after UPPP aroused our interest in designing this study. Fifteen OSAS patients who had undergone UPPP with pre-operative, initial post-operative and long-term post-operative polysomnographic studies were included in this study. Long-term post-operative polysomnography was undertaken more than five years after surgery. The polysomnographic evaluations included respiratory disturbance index (RD I), duration of saturation SaO2 <85 per cent (DOS), and the lowest O2 saturation (LOS). Amongst them, 10 patients with initial post-operative RDI reduction > 50 per cent were considered responders. In these responders, the long-term follow-up results of all three parameters showed improvement compared to the preoperative data. In a comparison between the initial and long-term post-operative sleep study results, LOS and DOS showed no significant difference. However, the long-term post-operative RDI result became significantly worse. More than 80 per cent of all cases had subjective symptomatic improvement in the long-term post-operative evaluation. The subjective improvement after operation is not adequately correlated to the polysomnographic result. We suggest that long-term follow-up for patients after UPPP is necessary.

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