The People’s Bank of China (PBoC) has published a whitepaper for the country’s central bank digital currency for the first time, marking yet another step toward its official rollout.
The PBoC issued a whitepaper on Friday for its digital yuan project, also dubbed the e-CNY, which notably confirms that the digital fiat currency is designed to be programmable with smart contract features. But it has not set any concrete roadmap or timeline for an official launch.
The whitepaper at a high level explains the background, features and the progress of the e-CNY initiative that started in 2014. According to the paper, part of the bigger context that pushed China into the research and development of the e-CNY was the emergence of cryptocurrencies and the risks and challenges they brought to the existing financial system.
“Adopting blockchain and encryption technology, cryptocurrencies such as Bitcoin are claimed to be decentralized and entirely anonymous. However, given their lack of intrins

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Źródło: https://www.theblockcrypto.com/post/111648/china-digital-yuan-whitepaper-smart-contract-programmability?utm_source=rss&utm_medium=rss