Bank of China Unveils New e-CNY Smart Contract Testing Program for School Education

According to local news channel Sohu.com, the state-owned Bank of China announced a new program on Tuesday to bridge primary education with smart contracts. In a combined partnership with local education and financial authorities, parents living in the city of Chengdu, China's Sichuan province, can enroll their children in after-school or extracurricular classes using the digital yuan central bank digital currency, or e-CNY. In the pilot test, parents start by paying a deposit to a private educational institution for a series of lessons. After that, a smart contract binds each lesson pro rata to the deposit. This way, if their…