As the central bank exclusively issues base money using a single sovereign 3  unit, people no longer carry the burden of evaluating and converting multiple units of currency. At the same time, commercial banks contribute to efficient allocation of financial resources to the economy through their financial intermediation by private-led initiatives.
Bearing these in mind, I will discuss some challenges which recent changes in the financial system raise. Let me begin with the background and characteristics of changes in the financial system. First of all, I should confirm the profound impact of innovations in information technology on the financial system.