Lens1000
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The Chinese government is set to integrate smart contract in its digital yuan called e-CNY. The smart is built on the blockchain. This will enable it's users carryout a self executed payment. This will ensure a secure transaction through encrypted storage, digital signature and digital certificate
It is important that the CBDC project integrates the smart contract for secured transactions. China is the first of all the countries planning to adopt CBDC to integrate the smart contract.
Moreover, it will not allow the share of transaction data with the third party. The government reiterated that they will protect the privacy of small transaction but will trace the high value transaction. This will enable the government check if the high value transaction conform with the money laundering polices and tax evasion.
How would you react to this giant strive by the Chinese government .
It is important that the CBDC project integrates the smart contract for secured transactions. China is the first of all the countries planning to adopt CBDC to integrate the smart contract.
Moreover, it will not allow the share of transaction data with the third party. The government reiterated that they will protect the privacy of small transaction but will trace the high value transaction. This will enable the government check if the high value transaction conform with the money laundering polices and tax evasion.
How would you react to this giant strive by the Chinese government .